Due to the decline in international oil prices, the 27.8 million barrel crude oil major short position held by "Abraxas Capital" has turned losses into profits.

CoinNetwork · 2026-03-18T04:58:01+00:00

On March 18, international oil prices declined, with WTI crude oil dropping over 3% and Brent crude oil dropping over 2%. As a result, Abraxas Capital's short positions in crude oil turned profitable, with total holdings amounting to $27.8 million, with unrealized gains held across two addresses.

CoinNetwork

2026-03-18 04:58:01

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Crypto World News reports that on March 18, according to Hyperinsight monitoring, international oil prices retreated, with WTI crude oil falling over 3% intraday and Brent crude oil dropping more than 2%. The Hyperliquid platform CL (WTI crude oil) contract price subsequently fell below the $93 mark, currently at $92.4. This decline caused the largest on-chain crude oil short position holder, “Abraxas Capital,” to turn its two addresses’ holdings from loss to profit. The institution started building positions gradually from the evening of the 16th and continued adding until last night, with a total position size of $27.8 million. The details are as follows: “Abraxas Capital” main address (0x5b5): 10x leveraged CL short, $13.5 million, average price $93.1, floating profit $120,000; “Abraxas Capital” sub-address (0xb83): 10x leveraged CL short, $14.3 million, average price $93.3, floating profit $170,000.

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