finance
Oil futures trader position nears liquidation after price decline
A long position of 500,000 contracts valued at $36.85 million faces a liquidation price of $71.54. The position is currently down more than $2.24 million.
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A trader holding 500,000 xyz:CL long contracts valued at $36.85 million is approaching liquidation at a price of $71.54. The position has declined more than $2.24 million from its entry point.
The contracts represent a directional bet that oil prices would rise. Current market levels have moved the position close to automatic liquidation. Liquidation would occur if the contract price reaches $71.54. The reported loss reflects the difference between the position's entry value and its current mark-to-market value.
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CorroborationModerate · 1 source
