Hyperliquid Crude Oil Futures Funding Rate Turns Positive; Middle East Tensions Drive Oil Price Volatility and Upward Movement

CoinNetwork · 2026-03-13T07:35:27+00:00

With oil prices continuing to rise, market bullish sentiment has increased, and the funding rates for CL and BRENTOIL have turned positive. Despite the complex situation in the Middle East and the continued impact of Hormuz Strait closure on supply, WTI crude oil prices once surged to $98 per barrel.

CoinNetwork

2026-03-13 07:35:27

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CryptoWorld News: On March 13, according to Hyperliquid monitoring, market bullish sentiment is heating up as oil prices continue to rise. Hyperliquid’s funding rates for CL (WTI Crude Oil) and BRENTOIL (Brent Crude Oil) turned positive today, with CL contracts at approximately 0.0012% and BRENTOIL at about 0.0052%. Currently, the combined trading volume of U.S. and Brent crude oil has reached $1.3 billion, with open interest totaling $377 million. On the news front, tensions in the Middle East have continued to escalate from last night into early this morning. Iran’s Supreme Leader declared that “the Strait of Hormuz must remain closed,” causing oil prices to spike briefly to $96 per barrel; later, Deputy Foreign Minister Ravanji stated that “some ships from certain countries are allowed to pass,” which caused prices to retreat some of their gains. Despite this, the ongoing closure of the strait still results in an approximate daily supply shortfall of 20 million barrels. Early this morning at 6 a.m., WTI crude oil prices briefly rebounded to $98 per barrel, currently trading at $95.7.

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