TradingBeats data cited by BlockBeats put Hyperliquid’s largest xyz:CL crude-oil short near liquidation. The address reportedly uses 20x leverage, with a $12.63 million position opened at $96.70 and a stated liquidation level of $102.85. With oil at $100, a further 2.85% rise would reach that level.
Middle East tensions add to oil-market risk
BlockBeats attributed the recent rise in oil prices to heightened Middle East geopolitical risk and tight supply. The report cited an escalation in the U.S.-Iran standoff around the Strait of Hormuz, rising friction between Iran’s Revolutionary Guard and U.S. forces, and continued Houthi attacks on Saudi oil facilities as factors lifting the supply-disruption risk premium.