Ahead of the G7 meeting, a statement was made "in principle supporting the use of strategic oil reserves," and four major whales opened large long positions in crude oil within the day.

BlockBeats News, March 11, according to Hyperinsight monitoring, since the news this morning at 8:00 that G7 leaders will hold a conference call, all whales who opened positions of over 1 million USD in CL (WTI crude oil) on Hyperliquid were long positions, with average entry prices concentrated in the 83 to 84 USD range. The address starting with 0x519 tracked and opened a long position of 2.07 million USD in the past hour. As oil prices rose, CL on Hyperliquid is currently quoted at 86.3 USD, and all four whales have recorded considerable unrealized profits.

On the news front, according to Wallstreet News, in the past hour, the IEA plans to use 400 million barrels of strategic reserves, and the G7 group stated "in principle supports the use of strategic oil reserves." The news at 8:00 this morning said that G7 leaders will urgently hold a conference call at 22:00 (UTC+8) to specifically discuss the Iran crisis and the surge in energy prices.