Abraxas Capital has increased its short positions in both WTI and Brent crude oil to $136 million, with a paper loss of $7.2 million.

PANews reported on March 30 that, according to HyperInsight monitoring, this weekend, the largest short seller of crude oil on-chain, "Abraxas Capital," once again significantly increased its short positions in WTI and Brent crude oil. Both addresses simultaneously increased their positions, with a cumulative increase of over $44 million. The average prices for adding positions in WTI and Brent were $102 and $108 respectively, and the size of the short positions increased by approximately 48% compared to Friday.

Following this round of increased positions, both addresses now hold over $17 million in short positions on WTIOIL and over $50 million in short positions on BRENTOIL, bringing their total open interest to $136 million. However, due to the continued rise in crude oil prices, these addresses have turned from profit to loss, with a total unrealized loss of $7.2 million.