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

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

Key Stories Impacting United States Brent Oil Fund

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 business has a 50-day simple moving average of $51.62 and a two-hundred day simple moving average of $37.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ball & Co Wealth Management Inc. acquired a new position in shares of United States Brent Oil Fund in the 1st quarter worth approximately $56,000. JPMorgan Chase & Co. boosted its holdings 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 worth $628,000 after acquiring an additional 1,378 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of United States Brent Oil Fund by 49.4% in the 1st quarter. Royal Bank of Canada now owns 5,974 shares of the company’s stock worth $310,000 after acquiring an additional 1,974 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings 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 worth $194,000 after acquiring an additional 2,514 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings 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 worth $587,000 after acquiring an additional 2,893 shares in the last quarter.

United States Brent Oil Fund Company Profile

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.