BRE3L.MI is trading at €37.74, down 4.92%, as Iran’s openness to diplomacy and recovering Gulf supply flows eased oil’s geopolitical risk premium.
- Brent remained above $100 but fell 1.25% on September 25; BRE3L.MI’s 3x daily leverage amplified the decline.
- Persistent Strait of Hormuz and Middle East export risks limited the downside, but near-term diplomacy optimism outweighed them.