🟢 Brent 3x ETC (BRE3L.MI) is trading 8.72% up after Brent surged nearly 4% on September 23

BRE3L.MI is trading at €34.91 (+8.72%) after Brent crude rose nearly 4% on September 23, consistent with the ETC’s 3x daily exposure to Brent futures.

• The move was amplified by US-Iran conflict risks and uncertainty over Gulf exports, as Iranian officials rejected surrender and renewed Strait of Hormuz supply concerns.
• Early September 24 reports showed Brent retreating as diplomacy and recovering shipments reduced some risk premium, after the prior-session rally that drove the ETC’s quoted move.