NewEdge Advisors LLC purchased a new stake in United States Brent Oil Fund LP (NYSEARCA:BNO – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,156 shares of the company’s stock, valued at approximately $1,776,000. NewEdge Advisors LLC owned 0.19% of United States Brent Oil Fund at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Jump Financial LLC acquired a new position in shares of United States Brent Oil Fund during the third quarter worth about $4,303,000. Ruffer LLP acquired a new stake in United States Brent Oil Fund in the 4th quarter valued at approximately $3,019,000. Virtu Financial LLC acquired a new stake in United States Brent Oil Fund in the 3rd quarter valued at approximately $2,865,000. Harvest Fund Management Co. Ltd lifted its stake in United States Brent Oil Fund by 35.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 337,192 shares of the company’s stock valued at $9,549,000 after acquiring an additional 88,905 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in United States Brent Oil Fund in the 1st quarter valued at approximately $2,872,000.
United States Brent Oil Fund News Roundup
Here are the key news stories impacting United States Brent Oil Fund this week:
- Positive Sentiment: Oil prices rose after Iran said it stopped two vessels attempting to leave the Strait of Hormuz. The incident renewed concerns about global energy supplies, particularly after a recent drone attack on ships at an Egyptian Mediterranean port. Oil price rises after Iran says it stops ships in Hormuz
- Positive Sentiment: A Reuters survey found analysts expect oil prices to gain further this year as Strait of Hormuz shipping disruptions and Red Sea attacks by Iran-backed Houthis threaten crude flows. Oil prices seen gaining as Middle East supply disruptions persist
- Positive Sentiment: U.S. crude production fell about 2% in May from April’s record level, while lower domestic supply can provide additional support to oil prices. However, weaker U.S. demand partly offsets this effect. US oil output and demand fell in May, EIA says
- Positive Sentiment: Oil rebounded from session lows as traders remained cautious about further escalation, preserving a geopolitical risk premium in Brent futures. Oil rebounds from session lows
- Neutral Sentiment: Refining margins near record levels have contributed to higher European fuel prices, but this primarily affects refiners and does not directly change BNO’s exposure to Brent futures. Oil refining margins have added to Europe’s fuel price rise
- Negative Sentiment: Reports that Strait of Hormuz traffic recovered to roughly 30%–35% of pre-war levels and that more crude is moving through key chokepoints have eased immediate supply fears, limiting Brent’s upside. Oil prices ease as recovering Hormuz Strait traffic tempers war premium
- Negative Sentiment: Profit-taking and technical consolidation have periodically pushed Brent and WTI lower as traders await clearer developments in the conflict. Oil markets move lower amid profit-taking
United States Brent Oil Fund Stock Up 1.4%
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.
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