🔴 Brent Oil 3x ETC (BRE3L.MI) is trading 4.64% down today despite Brent’s 4.99% gain

BRE3L.MI is trading at €19.75 (-4.64%) as its decline appears inconsistent with Monday’s underlying Brent catalyst.

• Brent settled up 4.99% at $87.72 after Iran tied Strait of Hormuz reopening to sanctions relief, compensation, and other U.S. concessions.
• The decline may instead reflect profit-taking, session timing, currency effects, or daily-leverage tracking rather than weakening oil fundamentals.