🔴 Brent Oil 2X ETC (BRE2L.MI) is trading 11.33% down today despite Brent rising 4.6% on supply fears

BRE2L.MI is trading at €51.20, down -11.33%, despite renewed U.S.-Iran fighting around the Strait of Hormuz driving Brent higher.

• On September 1, Brent rose 4.6% to $94.65, a move that would normally support a daily leveraged long Brent ETC.
• The divergence may reflect product-specific pricing, roll, reset, or stale-quote effects rather than oil fundamentals.
• Geopolitical supply-disruption fears remain the principal catalyst; weaker equities and higher bond yields reinforce the risk-off backdrop but do not explain the decline.