United States Brent Oil Fund (NYSEARCA:BNO) Shares Gap Down – Time to Sell?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) gapped down before the market opened on Monday . The stock had previously closed at $50.38, but opened at $47.73. United States Brent Oil Fund shares last traded at $47.34, with a volume of 526,387 shares traded.

Trending Headlines about United States Brent Oil Fund

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

• Positive Sentiment: Brent and WTI later stabilized or rebounded as traders continued to assess Middle East supply disruptions, offering some support to oil prices and BNO. Natural Gas and Oil Forecast: WTI and Brent Rebound as Middle East Supply Risks Persist
• Neutral Sentiment: Oil’s 200-day exponential moving average held, leaving the market technically supported, although traders remain focused on resistance levels and evolving geopolitical headlines. WTI and Brent Crude Oil Forecasts
• Neutral Sentiment: War-related price gains are expected to lift U.S. shale producers’ quarterly profits, but the likely return of much of the windfall to shareholders rather than production expansion provides limited direct support for future Brent supply growth. War-fueled oil rally set to lift shale profits to highest since 2022
• Negative Sentiment: Crude futures dropped sharply after President Donald Trump canceled planned strikes on Iran and pursued talks that could reopen the Strait of Hormuz, reducing the geopolitical risk premium in Brent. Oil tumbles as Trump cancels attack on Iran to reach nuclear deal
• Negative Sentiment: Unconfirmed Hormuz diplomacy drove an approximately 8% oil selloff, while OPEC+ approved another production increase of about 188,000 barrels per day for September, adding to supply concerns. Oil News: Crude Oil Futures Drop 8% as Hormuz Deal Hopes Outrun Ship Flows OPEC+ agrees to September oil hike

United States Brent Oil Fund Stock Down 5.2%

The firm’s fifty day simple moving average is $47.09 and its two-hundred day simple moving average is $44.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its position in United States Brent Oil Fund by 35.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 337,192 shares of the company’s stock valued at $9,549,000 after purchasing an additional 88,905 shares during the period. Ruffer LLP purchased a new position in shares of United States Brent Oil Fund during the 4th quarter worth $3,019,000. NewEdge Advisors LLC purchased a new position in shares of United States Brent Oil Fund during the 1st quarter worth $1,776,000. Lombard Odier Asset Management USA Corp acquired a new stake in shares of United States Brent Oil Fund during the 1st quarter worth about $854,000. Finally, Midwest Trust Co acquired a new stake in shares of United States Brent Oil Fund during the 1st quarter worth about $216,000.

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.