🔴 Brent Oil 2X ETC (BRE2L.MI) is trading 16.44% down today despite Brent's surge on geopolitical risk

BRE2L.MI is trading at €51.20, down -16.44%, despite renewed geopolitical risk that initially pushed Brent sharply higher.

• Two tanker incidents in the Strait of Hormuz and subsequent U.S.-Iran strikes intensified supply-disruption fears; Brent reached $94.65 on September 1.
• The decline appears inconsistent with the bullish oil catalyst and likely reflects a sharp repricing or liquidity dislocation in this leveraged ETC after the initial spike.
• Trading has been unusually stale, with recent closes fixed at €51.67.