Abraxas Capital has turned its previously losing short positions on crude oil into profitable ones, with unrealized gains now totaling $4 million. This shift follows a market reaction to Trump's announcement of troop withdrawal, which led to a decline in both U.S. and Brent crude oil prices below the $100 mark. The firm holds significant positions, including a $92 million short on Brent oil at an average price of $103 and a $52 million short on WTI crude at an average price of $98.30, both utilizing 5x leverage. The total position size has reached $144 million, according to Hyperinsight monitoring.