United States Brent Oil Fund (NYSEARCA:BNO) Reaches New 12-Month High – Time to Buy?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $61.51 and last traded at $61.06, with a volume of 394470 shares changing hands. The stock had previously closed at $59.32.

Key United States Brent Oil Fund News

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

• Positive Sentiment: Escalating risks to Middle East exports remain the strongest bullish catalyst. Houthi forces reportedly gained influence over the strategic Bab al-Mandeb Strait, while attacks on shipping and reduced traffic through the Strait of Hormuz threaten crude flows. The Houthis have created a new front in the Middle East war that’s pushing up oil prices
• Positive Sentiment: The International Energy Agency expects the global oil supply gap to deepen as the Iran conflict delays a return to normal Gulf flows. Chevron’s CEO also warned that depleted crude inventories and spare buffers could allow prices to rise further in coming months. Global 2026 oil supply gap to deepen
• Positive Sentiment: Oil tanker rates reached records after attacks on shipping, signaling sharply higher transportation and insurance costs and reinforcing concerns about disrupted supply. OPEC output also fell in August because of Saudi and Iranian supply interruptions. Oil tanker rates hit record highs
• Positive Sentiment: Unusually heavy call-option buying in BNO indicates that some traders are positioning for additional upside in Brent prices, though it is speculative rather than a fundamental driver.
• Neutral Sentiment: Brent and WTI recorded a large weekly gain and remained near historically important price levels, but both benchmarks retreated in the latest session as traders took profits after the rally. Oil prices fall sharply after double-digit weekly gains
• Negative Sentiment: Reports that Gulf countries may meet with Iran temporarily reduced fears of an immediate Strait of Hormuz disruption, contributing to the oil pullback and weighing on BNO. Oil dives as Gulf countries prepare to talk with Iran
• Negative Sentiment: OPEC lowered its 2026 global demand-growth forecast for the fifth consecutive time, while record U.S. production and possible government support for expanded refining capacity could ease longer-term supply concerns. OPEC further lowers 2026 global oil demand growth forecast

United States Brent Oil Fund Stock Down 2.8%

The business has a fifty day moving average price of $50.57 and a 200 day moving average price of $49.30.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BNO. Harvest Fund Management Co. Ltd grew its stake in United States Brent Oil Fund by 35.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 337,192 shares of the company’s stock worth $9,549,000 after buying an additional 88,905 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of United States Brent Oil Fund in the first quarter worth $1,776,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of United States Brent Oil Fund in the 2nd quarter valued at $456,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of United States Brent Oil Fund in the 1st quarter valued at $854,000. Finally, Empowered Funds LLC acquired a new position in shares of United States Brent Oil Fund during the 1st quarter valued at $2,872,000.

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.