The US-Iran conflict escalates again, and the former second-largest short position holder in crude oil CL flips long, earning $1.75 million. The US and Iran exchanged fire once more, with the US military expanding strikes on Iranian targets. Iran retaliated, reigniting risks to shipping and supply in the Strait of Hormuz. Oil prices surged, with Brent crude jumping over 4% at one point. Previously tracked address 0x40f2…6a9e timed this round of CL switches perfectly. On August 31, this address was still the second-largest short position holder in Hyperliquid CL. That morning, it closed its previous short position, realizing a loss of $140,100. Just about 10 minutes later, it flipped long on CL and quickly became the third-largest long position holder in Hyperliquid CL. This long position eventually expanded to 340,400 CL, approximately $29.13 million, with an entry cost of $85.57. After holding for 1 day and 18 hours, the address fully closed the position early this morning near $90.30, achieving a single trade profit of $1.7465 million. About 9 minutes after closing the long position, the address flipped short again with 114,200 CL. However, this time the direction didn’t hold, and the position was fully stopped out about 5 hours later, resulting in a $61,000 loss. From just these two completed CL trades today, the address netted a profit of $1.6855 million. Currently, the address has cleared all CL positions. Looking at the current holdings, the account has returned to a 100% short allocation, primarily holding short positions in XYZ100, SILVER, and HYPE. #StraitOfHormuz #BrentCrude