Brent Crude Oil Price Drop Triggers $3.21 Million Liquidation

A trader experienced a significant financial setback after a 5x leveraged long position in approximately 189,904 Brent crude oil contracts was fully liquidated. According to NS3.AI, the liquidation occurred following a decline in oil prices, resulting in a loss of about $3.21 million from an initial position valued at roughly $20.19 million. The position had been opened four days prior to the price drop.