🟢 Brent Oil 2x ETC (BRE2L.MI) is trading 26% up despite Brent falling more than 8%

BRE2L.MI is trading at €99.75, up 25.99%, despite Brent’s sharp decline, which does not explain the reported ETC gain.

• On November 4, crude fell more than 8% as markets priced in lower Iran-conflict escalation risk.
• Democrats’ midterm gains, diplomatic efforts and increased Gulf exports weighed on oil prices, normally pressuring a 2x-long Brent product. The reported quote is inconsistent with the underlying-market direction.