In the past 1 hour, Crude Oil experienced a $23.68 million liquidation, with the main position being a long liquidation.

BlockBeats News, April 17th, according to Coinglass data, a liquidation of $23.68 million occurred in the past 1 hour in the crude oil market, with only $0.06 million coming from short positions. The affected trading pairs include: xyz:CL (WTI Crude Oil Perpetual Contract), XYZ:BRENTOIL. The liquidation amount in the crude oil market ranks third in the entire network, following only BTC and ETH (Bitcoin liquidated $78.23 million, Ethereum liquidated $31.38 million).

On the news front, Iran announced the opening of the Strait of Hormuz, causing both WTI and Brent oil prices to drop by over 9%.