Gate News reports that after the news was released at 8 a.m. on March 11 that G7 leaders will hold a phone call, a whale on a decentralized derivatives trading platform opened a position worth over $1 million in WTI crude oil (U.S. West Texas Intermediate futures). All of the whales’ positions are long, with average entry prices concentrated between $83 and $84. An address starting with 0x519 tracked a long position of $2.07 million in the past hour. As oil prices rise, WTI crude oil on the platform is currently reported at $86.3, and all four whales have already recorded significant unrealized gains. On the news front, within the past hour, the IEA (International Energy Agency) plans to deploy 400 million barrels from strategic reserves, and the G7 group stated they “principally support the use of strategic oil reserves.” At 8 a.m. this morning, it was reported that G7 leaders will urgently hold a phone call at 22:00 Beijing time to specifically discuss the Iran crisis and the surge in energy prices.
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