A whale holding a $148 million crude oil long position closed $44.04 million worth of CL longs within 10 minutes, realizing a $4.9 million loss amid an unrealized drawdown that peaked at $15.08 million. The trader had accumulated the position over approximately two weeks before crude oil prices plunged 14% this week.
The whale still holds $94.79 million worth of Brent oil exposure with an unrealized loss of $8.35 million.
Crude Oil Whale Closes $44M Long Position, Realizing $4.9M Loss After 14% Price Plunge
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