BRE3L.MI is trading at €49.51, up 4.77%, with Brent’s rally the clearest driver. - Traders priced in supply risks after Houthi attacks on Saudi energy targets and continued threats to Gulf shipping. - Brent was reported above $110 amid those concerns. - The gain reflects a geopolitical risk premium in BRE3L.MI’s underlying oil exposure, rather than broad equity strength.