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

According to Mars Finance, on March 30th, Hyperinsight monitoring showed that over the weekend, Abraxas Capital, the largest short seller of crude oil on the blockchain, significantly increased its short positions in WTI and Brent crude oil. Two addresses simultaneously increased their positions, accumulating over $44 million in additional holdings. The average price at which they added positions in WTIOIL and BRENTOIL was $102 and $108 respectively, representing a roughly 48% increase in short position size compared to Friday. Following this round of increases, both addresses now hold over $17 million in short positions in WTIOIL and over $50 million in short positions in BRENTOIL, pushing their combined holdings to $1.36. 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.