SG ETC DAILY LONG +2X BRENT OIL FUTURE is trading at $42.41 (-8.9%) as Brent crude prices retreat following a significant reduction in geopolitical risk premiums.
- Brent crude fell more than 4% to below $84 per barrel after the announcement of a 60-day US–Iran peace agreement and the reopening of the Strait of Hormuz.
- The ETF’s decline was amplified by its 2x leverage and profit-taking as supply fears and war-risk pricing faded from the market.