Monitored by Woofun AI, WTI crude oil prices have declined by 15.8% from their peak since the early morning of June 12th, when Donald Trump announced the cancellation of strikes against Iran and outlined plans for a peace accord. As specifics of the US-Iran agreement emerged, market sentiment shifted toward anticipating the reopening of the Strait of Hormuz, driving WTI prices below $75. On Hyperliquid, WTIOIL is currently trading at $74.92, marking an 87.7% retracement of gains accumulated since the onset of hostilities on February 28th.

Concurrently, on-chain data reveals a significant speculative move by a single entity on Hyperliquid. This whale initiated a short position on June 12th, selling 42,139 contracts of WTIOIL with 20x leverage, resulting in a total position value of approximately $31.57 million. With an average entry price of $83.10, this trade has generated an unrealized profit of $3.45 million, representing a return of roughly 200%. The address associated with this activity is 0x9e8b1e51c642f4c8b87c6ba11c53d516a218afc4, which now holds the largest short position for WTIOIL on the platform.