Whale Suffers $2.43M Loss from 61 BRENTOIL Long Positions as Oil Prices Decline

HuoXing Finance reports that, according to Hyperinsight monitoring, the whale address starting with 0xc278 has completed 61 BRENTOIL trades since trading Brent crude oil on March 19, with 59 being long positions and only 2 short positions, resulting in a long position ratio of 96.7%. The total net loss across all 61 trades amounted to approximately $2.431 million, with million-dollar-level positions accounting for 99.4% of the losses. Early yesterday, its long position in Brent crude triggered a system liquidation. The full liquidation closed out 47,600 BRENTOIL long contracts, with a total liquidation value of approximately $4.046 million and a weighted liquidation price of about $84.99, resulting in a combined loss of approximately $275,000. After the liquidation, this address holds no remaining Brent crude position. Prior to the liquidation, BRENTOIL on Hyperliquid dropped from a high of $91.68 to a low of $82.81 on Sunday, marking a maximum decline of 9.7%; its final liquidation price was approximately 7.6% lower than the peak. This decline primarily occurred after Trump indicated he would suspend new strikes against Iran and stated that a ceasefire agreement in the Middle East was nearing completion. Earlier in April, this whale incurred losses of approximately $882,000, $513,000, and $460,000 on three consecutive long positions, yet continued to take almost exclusively long positions in crude oil, repeatedly recording the largest single liquidations on the network.