United States Brent Oil Fund (NYSEARCA:BNO) Shares Gap Down – Should You Sell?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) gapped down prior to trading on Monday . The stock had previously closed at $50.38, but opened at $47.73. United States Brent Oil Fund shares last traded at $47.34, with a volume of 526,387 shares changing hands.

Key United States Brent Oil Fund News

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

• Positive Sentiment: A sharp U.S. crude-inventory draw and strong refinery activity are supporting oil demand and limiting the downside for Brent. Persistent LNG demand and continuing Middle East supply risks also provide potential support. Natural Gas and Oil Forecast: Middle East Risks, EIA Inventory Draw Keep Energy Markets in Focus
• Positive Sentiment: Oil’s recent rebound and the uncertainty surrounding U.S.-Iran negotiations indicate that the Hormuz disruption has not been fully resolved. Any renewed escalation or delay in restoring shipping could lift Brent and BNO. Oil ticks up after selloff as talks to end US-Iran war remain uncertain
• Neutral Sentiment: Goldman Sachs expects Brent to remain broadly between $80 and $90 until a confirmed U.S.-Iran agreement or a major escalation, suggesting elevated volatility but no clear directional trend. Goldman sees Brent at $80-$90 until US-Iran deal or major escalation
• Negative Sentiment: Reports that the Strait of Hormuz could reopen soon have reduced the supply-risk premium in crude. A deal would restore traffic through a waterway carrying roughly one-fifth of global oil shipments, which would likely weigh on Brent and BNO. U.S. Futures Higher, Oil Holds Around $80 on Hopes for Imminent Hormuz Reopening
• Negative Sentiment: Technical momentum remains weak: WTI broke below key moving-average support, with sellers targeting lower Fibonacci levels. BNO opened near its 200-day average but remains below its 50-day average, reinforcing a cautious near-term setup. Crude Oil Price Forecast: Sellers Target Deeper Pullback
• Negative Sentiment: Expected higher OPEC+ output in September could add supply to the market, while Japan’s increased reserves and alternative sourcing reduce some concerns about immediate shortages. Natural Gas and Oil Forecast: OPEC+ Output Increase Meets Persistent Middle East Supply Risks

United States Brent Oil Fund Price Performance

The stock’s 50 day moving average is $46.79 and its two-hundred day moving average is $45.21.

Hedge Funds Weigh In On United States Brent Oil Fund

Hedge funds have recently modified their holdings of the stock. Ball & Co Wealth Management Inc. bought a new stake in United States Brent Oil Fund in the first quarter valued at $56,000. JPMorgan Chase & Co. lifted its holdings in shares of United States Brent Oil Fund by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 20,896 shares of the company’s stock valued at $628,000 after acquiring an additional 1,378 shares during the period. Royal Bank of Canada lifted its holdings in shares of United States Brent Oil Fund by 49.3% during the first quarter. Royal Bank of Canada now owns 5,974 shares of the company’s stock valued at $310,000 after acquiring an additional 1,974 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of United States Brent Oil Fund by 60.7% in the 2nd 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 purchasing an additional 2,514 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of United States Brent Oil Fund by 17.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,530 shares of the company’s stock worth $587,000 after purchasing an additional 2,893 shares during the last quarter.

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.