The significant increase in net asset value and strong trading performance suggest positive momentum in BNO, potentially driven by rising Brent crude oil prices. Traders should monitor whether this trend continues in the next monthly report and assess if the fund's performance aligns with oil market fundamentals.
Price Chart
Executive Summary
United States Brent Oil Fund, LP (BNO) released its monthly account statement for January 31, 2026, showing a net income of $16,379,067 and an increase in net asset value from $100.4 million to $135.5 million. The fund added 650,000 shares and saw strong realized and unrealized gains from commodity futures trading.
Key Facts
- Net income for January 2026 was $16,379,067
- Net asset value increased from $100,436,504 at the beginning of the month to $135,515,192 at month-end
- Net asset value per share was $32.65 as of January 31, 2026
- The fund had 4,150,000 shares outstanding at month-end
- Realized trading gain on commodity futures was $8,585,390
- Unrealized gain on market value of commodity futures was $7,566,180
- 650,000 shares were added during the month, while 50,000 shares were withdrawn
Financial Impact
Net asset value increased by $35.1 million (34.9%) in one month, driven by $16.4 million in net income and $18.7 million in net share additions
Risk Factors
- Commodity futures positions are subject to market volatility and could reverse quickly
- The fund's performance is directly tied to Brent crude oil prices, which can be highly volatile
- Future share creations or redemptions could dilute or concentrate shareholder value
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-021025 |
| Document: tm266376d6_ex99-1.htm | 0001104659-26-021025 |
| Document: 0001104659-26-021025-index-headers.html | 0001104659-26-021025 |
| Document: 0001104659-26-021025-index.html | 0001104659-26-021025 |
| Document: 0001104659-26-021025.txt | 0001104659-26-021025 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 28d ago | 8-K | $58.75 | awaiting T+60 | — | $69.50 (+18.30%) |
Sep 25, 2026 4w ago | 8-K | $60.33 | awaiting T+60 | — | $69.50 (+15.20%) |
Aug 28, 2026 8w ago | 8-K | $51.48 | awaiting T+60 | — | $69.50 (+35.00%) |
Jul 29, 2026 12w ago | 8-K | $50.43 $68.91 | ▼ −36.64% | ▼ −31.92% | $69.50 (−37.81%) |
May 28, 2026 21w ago | 8-K | $51.33 $53.80 | ▲ +4.81% | ▲ +3.08% | $69.50 (+35.40%) |
Apr 29, 2026 25w ago | 8-K | $58.81 $52.58 | ▼ −10.59% | ▼ −14.70% | $69.50 (+18.18%) |
Feb 27, 2026 34w ago | 8-K | $34.81 $53.10 | ▲ +52.54% | ▲ +43.16% | $69.50 (+99.66%) |
US Market Status
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