A major whale closed out its $44.04 million long position in CL, incurring a loss of $4.9 million.

A whale that had been long on crude oil worth $148 million began to cut its losses after realizing a paper loss of $15.08 million. In the past 10 minutes, it closed out a $44.04 million long position in crude oil futures, incurring a loss of $4.9 million. This whale had started its long position in oil prices two weeks ago and gradually increased it to $148 million; the 14% plunge in crude oil prices this week led to the paper loss. The whale currently holds BRENTOIL worth $94.79 million, with a paper loss of $8.35 million.