BRE3L.MI is trading at €22.07 (-8.61%) as fresh hopes for Strait of Hormuz reopening extended Brent’s decline on August 26.
- Brent crude settled 3.9% lower at $88.58 on August 25 as traders discounted major supply disruption from Iran sanctions.
- The ETC’s 3x daily leverage amplified the underlying oil selloff.
- Profit-taking after Brent’s sharp August rally added further downward pressure.