A WTI crude oil whale who profited immensely during the Iraq War has now lost over 400% of his initial investment and is only $1.10 away from being liquidated.

According to BlockBeats, on July 1st, Hyperinsight monitoring shows that the crude oil market is currently digesting the sharp drop in the second quarter while being disrupted by supply risks caused by Iran's refusal to hold direct talks with the United States. WTICRUDE (WTI crude oil) on the Hyperliquid platform is currently trading at approximately $69.70, down another 1.3% in the last 24 hours, with an on-chain trading volume of approximately $72.68 million and open interest of approximately $163 million. The largest long position holder in WTI crude oil futures (0x007d) is nearing liquidation. Currently holding a 20x leveraged long position in WTIOIL, with a size of approximately $12.57 million, an average entry price of $87.59, and a liquidation price of $68.56, only about $1.13 below the current price. The unrealized loss is approximately $3.23 million, corresponding to a loss of up to 413% of the principal. The long position now on the verge of liquidation was once one of the biggest winners in this round of war-related market movements. The address opened a long position on April 2, when the United States continued to implement the "maximum pressure" policy, constantly introducing new sanctions on Iranian oil exports and related transportation networks. Geopolitical risk premiums drove oil prices up all the way, reaching a high of $114 on April 4. The long position made a significant profit at that time. Since May, oil prices have plummeted, and this whale) remained in the market, allowing its profits to evaporate and ultimately owing four times its initial investment. Furthermore, this address repeatedly traded SPCX and SILVER in the past month. Looking at the on-chain trading data, large holders of WTI crude oil positions are clearly bearish overall. Currently, the nominal size of short positions in the millions of dollars is approximately $61.46 million, which is 2.32 times that of long positions ($26.46 million). The average entry price for long positions is approximately $84.27, and all of their positions are now underwater. This former wartime winner is now mired in the quagmire along with the long camp.