A certain whale bought the dip with a large crude oil long position, with the scale now exceeding $140 million.

November 3 — U.S.-Iran negotiations have sent de-escalation signals, rising market expectations of a cooling conflict, and international oil prices fell sharply overnight. Brent crude futures closed down 7.63% at $104.77; WTI crude closed down 7.36% at $96.46. According to Reuters, the Iranian president stated that the Supreme Leader has granted the government partial authority to advance peace negotiations.

During the oil price plunge, a Hyperliquid whale chose to buy the dip against the trend. The account accumulated approximately $51.78 million in Brent crude long positions in the early hours of today. Its Brent holdings increased from 377,000 contracts to 868,800 contracts, an increase of about 130.5%, with a weighted average entry price of approximately $104.05.

As of press time, the whale holds two 10x leveraged cross-margin long positions:

- Brent crude: position value approximately $91.176 million, blended average price $105.03, unrealized loss approximately $78,700, liquidation price approximately $86.85.

- WTI crude: position value approximately $56.1922 million, average price $98.23, unrealized loss approximately $876,200, liquidation price approximately $69.67.

The two oil long positions have a combined notional value of approximately $147 million, with current unrealized losses of approximately $954,900. Today's added position was mainly concentrated in Brent, while the WTI position actually decreased by approximately $600,000 over the same period.