BRE2L.MI is trading at €48.52 (down 4%) as cooling Middle East tensions and reports of potential strikes on Iranian energy assets ease supply fears.
- The decline follows a sharp geopolitically driven spike in Brent crude earlier in the week, which is now unwinding.
- As a 2x leveraged product, this ETF magnifies the daily movements of Brent oil futures, resulting in a steeper pullback than the underlying commodity.