🔴 Brent Oil ETF (BNO) is trading 3% down in pre-market on exports and G7 reserve release

BNO is trading at $59.60, down 3.01%, as stronger Middle East exports and the G7’s planned release of 100 million barrels ease supply concerns.

• Gulf exports excluding Iran exceeded 81% of pre-war levels in September.
• Improved security around regional routes also weighed on prices.
• The move follows BNO’s -2.61% close on October 5; broader U.S. equity futures were higher, suggesting oil-specific supply news was the clearer pressure.