Due to the international oil price drop, the 27.8 million barrels short position of the "Abraxas Capital" oil major has turned from a loss to a profit

BlockBeats News, March 18th, according to Hyperinsight monitoring, international oil prices fell, with WTI crude oil plummeting over 3% intraday and Brent crude oil dropping over 2%. Hyperliquid platform's CL (WTI crude oil) contract price subsequently fell below the $93 mark, currently at $92.4.

This round of decline has brought the positions of the largest on-chain oil bear, "Abraxas Capital," from a loss to a profit. The institution has been gradually building its positions since the night of the 16th and continued to add to its positions until last night, with a total position size of $27.8 million. The specific details are as follows:

"Abraxas Capital" main address (0x5b5): 10x leverage CL short position, $13.5 million, average price $93.1, unrealized gains $120,000;

"Abraxas Capital" sub-address (0xb83): 10x leverage CL short position, $14.3 million, average price $93.3, unrealized gains $170,000.