🟢 BRE3L.MI is trading 5.4% up today as renewed Middle East conflict and drone attacks lift Brent

BRE3L.MI is trading 5.4% higher today as renewed conflict around the Strait of Hormuz and drone attacks on a U.S. base in Kuwait push oil prices up and rebuild risk premia in the energy market.

• The rebound follows a volatile period where Brent crude fell more than 5% after a temporary de-escalation in U.S.-Iran tensions on August 2.
• As a 3x leveraged long Brent ETF, BRE3L.MI is seeing amplified gains as supply risk concerns return to focus following the recent flare-up in violence.
• The price action reverses a brief period of easing inflation fears, as geopolitical instability once again pressures oil-linked assets higher.