[Middle East Tensions Push Oil Prices Higher, Hyperliquid's Oil Perpetual Contract Hits $1.2 Billion in 24-Hour Trading Volume] According to Golden Finance, oil has become one of the most popular momentum trading assets on Hyperliquid. Hyperliquid is a rapidly emerging crypto exchange offering 24/7 high-leverage commodity trading. A perpetual contract linked to oil (tracking the price of one barrel of West Texas Intermediate crude oil, WTI) recorded over $1.2 billion in trading volume in the past 24 hours, surpassing Ethereum (ETH) to become the platform's second-largest trading market. The surge in trading volume coincided with a sharp rise in oil prices on traditional exchanges. On Monday, crude oil futures prices soared more than 30%, nearing $120 per barrel. This increase was primarily driven by escalating conflicts in the Middle East, raising concerns about disruptions to the global supply chain.