🔴 BRE3L.MI is trading 11.9% down today as Brent crude hits post-Iran war lows on peace talk progress

BRE3L.MI is trading 11.9% down at $12.49 after Brent crude prices dropped more than $3, hitting their lowest levels since before the Iran war.

• The selloff is primarily driven by progress in U.S.–Iran peace talks, which has significantly eased geopolitical risk premia.
• Expectations of increased global oil supply are further pressuring Brent futures, resulting in outsized losses for this 3x leveraged ETF.