BRE2L.MI is trading 10.2% down today as Brent crude futures face selling pressure following a reduction in Middle East geopolitical tensions.
- The leveraged ETF, which delivers twice the daily move of Brent oil, fell sharply after President Trump signaled a de-escalation in potential strikes on Iran.
- Traders are unwinding supply-disruption bets as negotiations to reopen the Strait of Hormuz progress, removing the war premium from global oil prices.