🟢 Brent Oil 3x ETC (BRE3L.MI) is trading 10.04% up as Hormuz closure disrupts shipping

BRE3L.MI is trading at €24.27, up 10.04%, reflecting the leveraged impact of renewed Brent crude gains.

• Brent settled at $91.02 on August 18 after Iran said the Strait of Hormuz would remain closed and the United States ruled out extending the ceasefire.
• Only six commodity ships transited Hormuz on August 17, versus a 10-day average of 11.
• Brent subsequently reached $91.47 on August 19, reinforcing the ETC’s upside move.