The fund experienced significant net redemptions (3.6M shares) in April, suggesting investor outflows from Brent oil exposure. Monitor crude oil price trends and fund flows for continued redemption pressure on BNO.
Price Chart
Executive Summary
United States Brent Oil Fund, LP filed its monthly account statement for April 2026, reporting net income of $81.2 million, driven by a $149.8 million unrealized gain on commodity futures partially offset by a $70.5 million realized loss. Net asset value declined from $951.7 million to $858.5 million, primarily due to net share redemptions of 3.6 million shares ($174.3 million net outflow).
Key Facts
- Net income for April 2026 was $81,162,327
- Net asset value fell from $951,651,551 to $858,516,466
- 2,900,000 shares were added for $153,369,950
- 6,500,000 shares were withdrawn for $327,667,362
- Net share redemptions of 3,600,000 shares
- NAV per share at month-end was $58.20 on 14,750,000 shares outstanding
Financial Impact
Net asset value declined by $93.1 million (9.8%) during April, driven by $174.3 million in net share redemptions partially offset by $81.2 million net income
Risk Factors
- Continued net redemptions could pressure fund size and liquidity
- Realized trading loss of $70.5 million indicates adverse positioning in futures
- Brent oil price volatility directly impacts fund NAV
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-067267 |
| Document: tm2614350d6_ex99-1.htm | 0001104659-26-067267 |
| Document: 0001104659-26-067267-index-headers.html | 0001104659-26-067267 |
| Document: 0001104659-26-067267-index.html | 0001104659-26-067267 |
| Document: 0001104659-26-067267.txt | 0001104659-26-067267 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 28d ago | 8-K | $58.75 | awaiting T+60 | — | $69.67 (+18.59%) |
Sep 25, 2026 4w ago | 8-K | $60.33 | awaiting T+60 | — | $69.67 (+15.48%) |
Aug 28, 2026 8w ago | 8-K | $51.48 | awaiting T+60 | — | $69.67 (+35.33%) |
Jul 29, 2026 12w ago | 8-K | $50.43 $68.91 | ▼ −36.64% | ▼ −31.92% | $69.67 (−38.15%) |
May 28, 2026 21w ago | 8-K | $51.33 $53.80 | ▲ +4.81% | ▲ +3.08% | $69.67 (+35.73%) |
Apr 29, 2026 25w ago | 8-K | $58.81 $52.58 | ▼ −10.59% | ▼ −14.70% | $69.67 (+18.47%) |
Feb 27, 2026 34w ago | 8-K | $34.81 $53.10 | ▲ +52.54% | ▲ +43.16% | $69.67 (+100.14%) |
US Market Status
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