"US and Brent crude main force short positions" rolling Brent crude oil shorts to $20.5 million, betting on IEA releasing reserves to push oil prices down.

CoinNetwork · 2026-03-12T07:45:23+00:00

On March 12, Hyperinsight monitoring showed that the IEA plans to release 400 million barrels of oil reserves, leading a major short address to continuously increase its BRENTOIL short positions, totaling over 84,400 contracts with a combined value of approximately $8.2 million. This address has become the largest short position holder in BRENTOIL, with an unrealized loss of $1 million. Meanwhile, it also holds $14.2 million worth of WTI crude oil shorts, indicating a strong bearish bet on falling oil prices.

CoinNetwork

2026-03-12 07:45:23

Abstract generation in progress

CryptoWorld News reports that on March 12, according to Hyperinsight monitoring, as the IEA announced the release of the largest emergency oil reserves in history—400 million barrels—“US and Brent main short positions” address (0x985f…) has been continuously rolling over its BRENTOIL (Brent crude oil) short positions since 10 PM last night, adding over 84,400 contracts with a total value of about $8.2 million. As of two hours ago, it was still increasing its position. After this series of continuous additions, the total value of its 20x leveraged BRENTOIL short position has risen to $20.5 million, with an average price of $91.8, making it the largest on-chain BRENTOIL short. The position currently has an unrealized loss of $1 million (-8%), with a liquidation price of $148. Meanwhile, this address also holds $14.2 million in WTI crude oil (CL) short positions, with an average price of $87.9, also in unrealized loss. The combined short positions on both oils exceed $34 million, firmly betting on a decline in oil prices.

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