Abraxas Capital Increases Short Positions in WTI and Brent Crude Oil

Abraxas Capital has significantly increased its short positions in WTI and Brent crude oil, according to Hyperinsight monitoring. According to BlockBeats, over the weekend, the firm added more than $44 million to its positions across two addresses, with average prices of $102 for WTIOIL and $108 for BRENTOIL. This marks a 48% increase in short positions compared to Friday. Following this round of additions, each address now holds over $17 million in WTIOIL shorts and over $50 million in BRENTOIL shorts, bringing the total position to $136 million. Due to the continuous rise in oil prices, these positions have shifted from profit to a combined unrealized loss of $7.2 million.