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Golden Ten Data reported on March 20 that, as supply in the Persian Gulf has been restricted for the third consecutive week, buyers are forced to seek alternative sources, and the volume of oil stored offshore is rapidly decreasing. If the United States advances Treasury Secretary Besant's proposal on Thursday to lift sanctions on Iran's offshore oil, these reserves may decrease even faster. Since the outbreak of the US-Israel-Iran war, offshore storage of crude oil and condensate has been decreasing by 1.8 million barrels per day, one of the fastest rates in years. According to data intelligence company Vortexa, current inventories are about 78 million barrels, with about one-third coming from Iran. Later last year, offshore floating oil storage increased rapidly, reaching a peak of over 140 million barrels at the end of November. This was due to the US pressuring India to avoid Russian oil and the acceleration of Iranian exports as geopolitical tensions worsened. Since then, these inventories have nearly halved. As the buffer becomes increasingly thin, unless the Strait of Hormuz is reopened quickly, oil prices may rise even faster.

BlockBeats News, March 20th, according to Hyperinsight monitoring, spot gold continued its decline. On Hyperliquid, the GOLD contract reached a low of $4520 this morning and is currently at $4680. The second largest on-chain gold short position held by "Abraxas Capital" (0xb83) has a floating profit of $1.93 million (22.2%). This morning, as gold briefly rebounded above $4700, the address opportunistically took some profits, closing about $1.4 million worth of short positions. They still hold a 5x leveraged GOLD short position at a scale of $17.8 million, with an average entry price of $5187. Reportedly, this short position significantly added to its position yesterday when the gold price was around $4850, accurately hitting the high point of this round of decline and capturing the downside potential.

The company emphasized that there is uncertainty regarding the advancement of any potential transaction, and the final outcome will depend on the progress of negotiations among multiple parties.