United States Brent Oil Fund LP (NYSEARCA:BNO – Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $68.78 and last traded at $68.78, with a volume of 225,296 shares changing hands. The stock had previously closed at $67.05.
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 risk is the main bullish catalyst. Houthi attacks on Saudi facilities and vessels, deadly incidents in Saudi Arabia, and persistent threats to shipping through the Strait of Hormuz have raised fears of disruptions to regional oil production and transportation. Brent moved above $110 as a result. US Orders Some Diplomats Out of Saudi Arabia After Deadly Attacks, Brent Tops $110 Oil Prices Rise as Hormuz Shipping Risks Persist
- Positive Sentiment: U.S. commercial crude inventories fell by 3.1 million barrels, substantially more than the 300,000-barrel decline analysts expected. Earlier API data also indicated a sizable draw, reinforcing near-term supply tightness. U.S. Crude Oil Stockpiles Fall More Than Expected
- Positive Sentiment: Oil markets also received support from renewed attention to Middle East tensions after earlier market concerns about artificial-intelligence stocks temporarily eased. Nasdaq Futures Drop Over 1% as AI Worries Resurface, Oil Climbs
United States Brent Oil Fund Trading Up 1.4%
The firm’s 50-day moving average is $58.97 and its 200 day moving average is $52.78.
Hedge Funds Weigh In On United States Brent Oil Fund
Hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new stake in shares of United States Brent Oil Fund in the first quarter worth $2,872,000. NewEdge Advisors LLC bought a new position in United States Brent Oil Fund during the 1st quarter worth $1,776,000. Lombard Odier Asset Management USA Corp bought a new position in United States Brent Oil Fund during the 1st quarter worth $854,000. CVS HEALTH Corp acquired a new position in United States Brent Oil Fund during the 1st quarter worth about $520,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in United States Brent Oil Fund during the 2nd quarter worth about $456,000.
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.
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