United States Brent Oil Fund (NYSEARCA:BNO) Sets New 12-Month High – What’s Next?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) reached a new 52-week high on Wednesday . The stock traded as high as $57.86 and last traded at $57.69, with a volume of 321506 shares traded. The stock had previously closed at $55.04.

Trending Headlines about United States Brent Oil Fund

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

• Positive Sentiment: Geopolitical squeeze: Continued U.S. naval blockade rhetoric and Trump’s stance are keeping supply disruption risk high, lifting Brent and underpinning BNO. US naval blockade squeezes Iran’s oil exports
• Positive Sentiment: Prices at multi?year highs: Brent/WTI have spiked to four?year highs amid war?related supply fears and analysts are lifting price forecasts—supportive for BNO’s NAV. Oil Prices Rise. What Happens Next After a Wild Month for Crude.
• Positive Sentiment: Fundamentals tightening: U.S. crude inventories fell and exports hit record highs, removing barrels from domestic availability and tightening global balances—a constructive backdrop for Brent?linked ETFs. US crude oil exports rose to record high, EIA says
• Neutral Sentiment: OPEC+ dynamics mixed: Reports of another OPEC+ output increase (adjusted after the UAE exit) introduce a potential offset to some supply tightness; impact depends on size and timing of any hikes. OPEC+ set to agree another oil output hike
• Neutral Sentiment: Analyst forecasts lifted but uncertain: Reuters polls and sell?side notes have raised long?run price paths because of possible prolonged disruption, but upside depends on how long disruptions last. Prospect of prolonged Iran war disruption drives oil forecasts higher
• Negative Sentiment: Short?term profit?taking/technical exhaustion: After a fast rally, some pieces note overextension and profit?taking, leaving prices vulnerable to pullbacks that would pressure BNO in the near term. Crude Oil Price Forecast: Exhaustion Signals Emerging Resistance

United States Brent Oil Fund Price Performance

The company has a 50-day simple moving average of $47.35 and a two-hundred day simple moving average of $35.76.

Institutional Trading of United States Brent Oil Fund

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of United States Brent Oil Fund in the fourth quarter valued at $149,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of United States Brent Oil Fund by 60.7% in the second 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 buying an additional 2,514 shares during the period. Headlands Technologies LLC raised its stake in shares of United States Brent Oil Fund by 389.5% in the second quarter. Headlands Technologies LLC now owns 9,834 shares of the company’s stock valued at $287,000 after buying an additional 7,825 shares during the period. BNP Paribas Financial Markets raised its stake in shares of United States Brent Oil Fund by 17.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,530 shares of the company’s stock valued at $587,000 after purchasing an additional 2,893 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of United States Brent Oil Fund by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,896 shares of the company’s stock valued at $628,000 after purchasing an additional 1,378 shares during the period.

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.