United States Brent Oil Fund (NYSEARCA:BNO) Shares Down 4.1% – Here’s Why

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) traded down 4.1% on Wednesday . The company traded as low as $56.18 and last traded at $56.40. 1,377,460 shares were traded during mid-day trading, a decline of 69% from the average session volume of 4,386,718 shares. The stock had previously closed at $58.81.

Key United States Brent Oil Fund News

Here are the key news stories impacting United States Brent Oil Fund this week:

• Positive Sentiment: U.S. crude inventories fell by 7.9 million barrels last week, far more than analysts expected, and gasoline stockpiles also declined. That tighter-than-expected supply picture could help support Brent prices. U.S. Crude Oil Stockpiles Post Fourth Straight Weekly Draw
• Positive Sentiment: Russia’s oil and gas revenue is projected to jump sharply in May, reflecting still-firm global oil prices and persistent geopolitical support for the crude market. Russia’s oil and gas revenue seen up 39% y/y in May thanks to Iran war
• Positive Sentiment: Some market commentary still points to constructive Brent pricing near elevated levels, with traders weighing whether tighter supply and lingering geopolitical risk could keep crude supported. Natural Gas and Oil Forecast: WTI Bounces to $103, Brent at $110 — Will NatGas Reach $3.20?
• Neutral Sentiment: The EIA reported that U.S. crude and gasoline inventories fell last week, while distillate stocks rose, leaving the broader demand/supply signal mixed for oil ETFs. US crude and gasoline inventories fell last week, distillates rose – EIA says
• Neutral Sentiment: Oil has been choppy as investors search for clarity on Iran-related developments, with some headlines suggesting tensions may ease while others still warn of renewed disruption risk. Crude Oil Price Analysis – Oil Continues to Look for Clarity
• Negative Sentiment: Oil prices fell after Trump said the U.S. would end the Iran war “very quickly,” and reports that tankers were moving through the Strait of Hormuz further eased immediate disruption fears. That softer risk premium can weigh on BNO. Tankers exit Hormuz as Trump Vance talk up Iran deal prospects
• Negative Sentiment: Additional reports said oil prices eased and futures edged lower as traders interpreted the latest U.S. comments as reducing the odds of an immediate escalation with Iran. Oil prices ease after Trump says US will end Iran war ‘very quickly’

United States Brent Oil Fund Price Performance

The stock has a 50 day moving average price of $51.62 and a two-hundred day moving average price of $37.98.

Institutional Trading of United States Brent Oil Fund

A number of institutional investors and hedge funds have recently modified their holdings of BNO. Daiwa Securities Group Inc. increased its stake in shares of United States Brent Oil Fund by 6.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 71,300 shares of the company’s stock valued at $2,081,000 after acquiring an additional 4,400 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of United States Brent Oil Fund by 60.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,654 shares of the company’s stock valued at $194,000 after acquiring an additional 2,514 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of United States Brent Oil Fund by 389.5% in the 2nd quarter. Headlands Technologies LLC now owns 9,834 shares of the company’s stock valued at $287,000 after acquiring an additional 7,825 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of United States Brent Oil Fund by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,896 shares of the company’s stock valued at $628,000 after acquiring an additional 1,378 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of United States Brent Oil Fund by 17.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,530 shares of the company’s stock valued at $587,000 after acquiring an additional 2,893 shares during the last quarter.

About United States Brent Oil Fund

The United States Brent Oil Fund, LP (BNO) is an exchange-traded fund that is based on the Front Month Brent Crude Oil index. The fund tracks the Brent oil spot price using near-month ICE futures contracts. BNO was launched on Jun 2, 2010 and is managed by US Commodity Funds.