A major trader on the Hyperliquid platform suffered a $3.63 million loss after a highly leveraged long position in WTI Crude oil turned sour. The trader, identified by the address 0x7f5ff9f8da891ffe5229e33b90959ae1e6d5f47e, entered the position when oil prices were above $111, with a total investment of $20.2 million. The position was likely based on expectations of worsening U.S.-Iran relations following a deadline set by Trump. However, the market shifted as prospects of a U.S.-Iran ceasefire emerged, leading to a sharp decline in oil prices and significant losses for the trader. This loss ranks among the top three on the Hyperliquid platform for the day and is the largest recorded for any crude oil instrument.