The oil whale is starting to pull back: closing a $CL position worth $51.87 million at a loss of $5.83 million, bringing total losses to $15.3 million.

The closed position was 587,250 $CL contracts, while the whale still holds a long position in one million $BRENTOIL worth $93.7 million.

The loss on the $BRENTOIL position is unrealized and amounts to $9.45 million, with a liquidation price of $82.4.

It hasn’t been confirmed yet whether the whale will close or adjust their $BRENTOIL position, and these figures may change as the oil price moves.

If you’re tracking large oil positions, this may reflect waning bullish confidence among whales, but it doesn’t guarantee a market reversal.

Watch the liquidation price of $82.4; it’s a level worth keeping an eye on for this position.

Do you expect the $BRENTOIL position to close soon? 👇

#CL #Oil

Tap $CL to trade

$CL $BRENTOIL

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