Abraxas Capital reportedly betting $135M on lower oil prices

Two addresses believed to belong to London-based asset manager Abraxas Capital hold a combined $135 million in short positions on oil via Hyperliquid (HYPE), Lookonchain reported. The positions consist of a $102.7 million short on Brent crude (BRENTOIL) and a $32.7 million short on WTI (CL).