Gate News reports that on March 13, according to HyperInsight monitoring, a trader address (0x985f…) continued to reduce their short positions in BRENTOIL (Brent crude oil, one of the international oil benchmarks) this morning, decreasing nearly 30,000 contracts, worth approximately $5.4 million. The trader currently holds 95,000 contracts of CL (WTI crude oil, U.S. crude futures), valued at about $9.13 million; and a BRENTOIL short position worth $41 million. It is understood that the trader believes oil prices will decline, and during this morning’s oil price rally, they significantly rolled over their CL short positions, exceeding 95,000 contracts, approximately $9.13 million; after the oil prices fell back this morning, they chose to reduce their BRENTOIL holdings, possibly indicating an assessment that during the overall downtrend, the relative premium of CL over Brent is too high.
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