BRE3L.MI is trading at €32.76 (-6.15%), as easing near-term supply concerns weigh on Brent. - Saudi Arabia restored crude-routing capacity, and Iraq indicated higher exports. - Hopes for renewed US-Iran diplomacy lowered geopolitical risk premiums despite the broader Middle East conflict. - 3x daily leverage and currency or futures-contract effects may amplify the move; confidence is medium amid conflicting intraday Brent pricing in available reports.