Oil Price Plummets, $29.2M in CL Crude Contracts Liquidated in One Hour

KuCoinFlash

Release Time: 03/09/2026 20:15:40

Summary

Oil prices plunged after Trump stated the war with Iran is "basically over," causing WTI crude to drop from $119.5 to $81.7 per barrel. On-chain data reveals $29.2 million in CL crude contracts were liquidated within one hour. Traders are now shifting their focus to altcoins amid market volatility.

Odaily Planet Daily reports: U.S. President Trump stated in a phone interview that the (Iran) war has essentially ended. In response to this news, oil prices briefly dropped by $14. During the Asian trading session, WTI crude oil rose as much as 30%, peaking at $119.5 per barrel; after Trump hinted at the war's conclusion during the U.S. trading session, WTI crude oil fell to $81.7 per barrel, a decline of 11%.

Coinglass data shows that $29.21 million in CL crude oil contracts were liquidated in the past hour.

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