BRE3L.MI is trading at €22.55 (+3.80%) as U.S. strikes on Iranian launchers near the Strait of Hormuz and Iran’s retaliation increased supply-disruption risk.
- Brent crude rebounded above $90 as markets priced a broader Middle East conflict and possible shipping interruptions.
- The ETC’s 3x daily leverage amplified the underlying oil rebound after recent sharp losses.
- Friday’s softer Brent close and Fed-related pressure suggest the move is primarily geopolitical, not broad-market driven.