United States Brent Oil Fund (NYSEARCA:BNO) Sets New 1-Year High – Here’s What Happened

United States Brent Oil Fund LP (NYSEARCA:BNO) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.98 and last traded at $63.56, with a volume of 2566991 shares. The stock had previously closed at $62.16.

United States Brent Oil Fund News Summary

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

• Positive Sentiment: Geopolitical and supply risks remain supportive for oil. Disrupted Red Sea and Strait of Hormuz flows, constrained refinery capacity, and the potential for a prolonged U.S.-Iran conflict have led Kpler analysts to warn that higher prices could become structural, with $150 oil still possible in 2027. Kpler warns $150 oil still on the table for 2027
• Positive Sentiment: Traders bought the dip as markets continued to focus on supply disruptions, helping WTI and Brent recover from session lows. A technical forecast also identified support near $99.30 for WTI, with a break above $102.50 potentially reopening a move toward $107.47–$109.74. Oil rebounds from session lows WTI crude oil forecast
• Neutral Sentiment: U.S. crude inventories declined for a third straight week, a potentially bullish signal for oil, but rising gasoline and distillate inventories indicate softer demand or improving product supply. U.S. crude oil stockpiles post moderate draw
• Negative Sentiment: Oil prices extended their decline after reports that Saudi Arabia could provide additional crude cargoes through Oman, reducing fears of an immediate Middle East supply shortfall. Oil prices extend losses as supply fears ease
• Negative Sentiment: The Federal Reserve’s first rate hike in three years added pressure to commodities by raising concerns about economic growth and fuel demand. Hopes of containing the Middle East disruption also contributed to the retreat. Oil prices slip after Fed rate hike

United States Brent Oil Fund Price Performance

The business’s fifty day moving average price is $52.19 and its 200 day moving average price is $50.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd boosted its stake in shares of 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. Daiwa Securities Group Inc. increased its position in United States Brent Oil Fund by 12.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 78,000 shares of the company’s stock valued at $2,209,000 after acquiring an additional 8,700 shares during the period. Empowered Funds LLC purchased a new stake in United States Brent Oil Fund during the 1st quarter valued at approximately $2,872,000. NewEdge Advisors LLC purchased a new stake in United States Brent Oil Fund during the 1st quarter valued at approximately $1,776,000. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in United States Brent Oil Fund during the 1st quarter worth approximately $854,000.

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.