The main short sellers of WTI and Brent crude oil have rolled over $20.5 million in Brent crude oil short positions, betting that oil prices will decline after the IEA releases reserves.

BlockBeats News, March 12, according to data, as the IEA announced the release of the largest emergency oil reserve in history, totaling 400 millions barrels, the "US and Brent Oil Main Short" address (0x985f…) has been continuously rolling over its BRENTOIL (Brent crude oil) short positions since 10 PM last night, accumulating more than 84,400 contracts with a total value of approximately $8.2 million, and was still increasing its positions as of two hours ago.

After this round of continuous additions, its 20x leveraged BRENTOIL short position has grown to a total value of $20.5 million, with an average price rising to $91.8, making it the largest BRENTOIL short on-chain. This position currently has an unrealized loss of $1 million (-8%), with a liquidation price of $148.

Meanwhile, this address also holds a $14.2 million CL (WTI crude oil) short position, with an average price of $87.9, which is also in an unrealized loss. The combined short positions in both oils exceed $34 million, firmly betting on a future decline in oil prices.