Escalating tensions between the U.S. and Iran have led to a surge in oil prices, with WTI and Brent crude experiencing significant gains. Iranian attacks on oil facilities in three Middle Eastern countries have disrupted energy supplies, driving WTI Crude prices up 4.5% intraday to a peak of $98, now trading at $96.65. Brent Crude saw a nearly 10% rise, currently at $107. The price surge has impacted traders on Hyperliquid, where a major whale, identified as 0x985, holding short positions on both WTI and Brent, has incurred unrealized losses of $2.3 million. The positions, totaling $29.5 million, were initially entered at around $91, highlighting the financial risks amid geopolitical instability.