"US and Brent Two Oil Majors' Air Force" Cuts Losses on Floating Short Positions, Still Holds $41 Million Bearish Bet on Oil Price Decline

BlockBeats News, March 13th, according to Hyperinsight monitoring, the 「US, Europe Dual Oil Main Force」 address (0x985f…) continued to reduce its position and sell off BRENTOIL (Brent Crude Oil) this morning, with a total reduction of nearly 30,000 contracts, equivalent to about $5.4 million. Its current relevant crude oil positions are as follows:

20x CL Long: Position size of approximately $23.7 million, average price $90.4, unrealized loss of $1.1 million (-9.6%);

20x BRENTOIL Long: Position size of approximately $17.8 million, average price $91.8, unrealized loss of $1.04 million (-12%);

It is reported that the trader's main judgment is to bet on a fall in oil prices. During this morning's oil price rally, the trader significantly increased their short position in CL by over 95,000 contracts, approximately $9.13 million. However, after the oil price dropped this morning, the trader chose to reduce their BRENTOIL position, possibly indicating a belief that during an overall downtrend, the premium of CL over Brent is too high.