BRE3L.MI is trading at €20.84 (-6.25%) as weaker 2026 global oil-demand forecasts pressure Brent.
- Forecasters reduced 2026 oil-demand growth expectations to 580,000 barrels per day, outweighing Iran-related supply risks.
- Brent futures were reported at $87.69, down 1.5%, amplifying the decline in this daily +3x product.
- Geopolitical support remained; Strait of Hormuz reopening progress was limited and shipping disruptions continued. The August 13, 2026 catalyst was weaker demand and profit-taking after oil’s strong recent rally.