Short-Term Physical Demand Drives US Oil above Brent Oil: On-Chain Whale Liquidates $13.4M Long Position in Brent Oil, Pivots Entirely to US Oil

BlockBeats News, April 3rd, according to Hyperinsight monitoring, the blockage of Middle East crude oil transportation has forced the market to shift to WTI crude oil physical demand. The U.S. oil futures price has surpassed Brent oil, and the Hyperliquid platform's WTIOIL is now at $111, with the intraday trading volume also exceeding BRENTOIL.

In this market situation, a whale starting with 0x9d3 continued to liquidate a 20x leveraged long position on BRENTOIL overnight and this morning, with a scale of $13.43 million fully closed, resulting in a final profit of approximately $2,830. The margin subsequently released was entirely reinvested in WTIOIL, increasing the position size to $35.4 million, with an average price of $102.5 and a current unrealized profit of $2.72 million (+15.5%).