WTI crude oil faced pressure in pre-market trading, experiencing a brief pullback. On-chain positioning by "Trader CBB" reveals a significant short position of 18 million, currently showing substantial unrealized gains.

BlockBeats News, March 5th, according to Coinbob Popular Address Monitor data, the pre-market WTI crude oil futures price in the U.S. stock market fell, temporarily dropping to $75, with a 2.8% hourly decline.

Crypto KOL CBB (address: 0xefd) had significantly increased its short position in CL (WTI Crude Oil Perpetual Contract) on Hyperliquid around 15th today, with the position size rapidly growing to $18 million in a short period, at an average price of $77.2, currently holding an unrealized profit of $390,000 (6%), now the largest on-chain CL short. In the past half an hour, the address has closed nearly $6 million, and as of the time of writing, it is still continuously taking profit.

In terms of news, according to the latest EIA data (for the week ending February 27), the total crude oil inventory in the U.S. Cushing area (WTI pricing delivery point) has reached a recent high, and U.S. Treasury Secretary Bessemer stated that the oil market is well supplied.

Crypto KOL CBB (X: Cbb0fe), a veteran trader and on-chain player, has about 100,000 fans on X social platform and has attracted widespread attention due to the public 25-year hunt for a multi-billion-dollar BTC short whale event. Currently, he is high-frequency trading commodities on Hyperliquid, mainly in short positions.