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United States Brent Oil Fund, LP
United States Brent Oil Fund, LP is a publicly traded commodity pool tracking Brent crude oil futures.
United States Brent Oil Fund, LP
United States Brent Oil Fund, LP (symbol BNO) is a commodity pool that issues units listed on NYSE Arca. The fund's objective is to track the daily price movements of Brent crude oil, as measured by the ICE Brent Crude Index. It was established by United States Commodity Funds LLC, which operates a family of commodity ETPs. The fund invests primarily in ICE Brent crude oil futures contracts that are traded on the Intercontinental Exchange. It may also hold other energy-related futures, forwards, and swaps. The fund's portfolio is rolled monthly as contracts near expiration. It does not engage in leveraged or inverse strategies. As a listed commodity pool, United States Brent Oil Fund, LP is subject to CFTC and SEC oversight. It files quarterly portfolio holdings and annual reports. The fund's net asset value is calculated daily. It does not disclose the number of professional staff managing the portfolio. A structural differentiator is the fund's explicit focus on Brent rather than West Texas Intermediate (WTI) crude. Most US-listed oil ETPs track WTI. Brent is a global benchmark that reflects North Sea production and influences pricing for roughly two-thirds of the world's crude (per ICE, public record).
General information
Firm type
Commodity Pool
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Sector focus
Frequently asked questions
What does the United States Brent Oil Fund, LP track?
The fund seeks to track the daily price movements of Brent crude oil, as measured by the ICE Brent Crude Index. It invests primarily in ICE Brent crude oil futures contracts. This is distinct from funds that track West Texas Intermediate (WTI) crude.
How is the fund structured?
The fund is a commodity pool organized as a limited partnership. It issues units that trade on NYSE Arca under the symbol BNO. The fund is a series of United States Commodity Funds, a trust structure that also sponsors other commodity exchange-traded products.
Does the fund use leverage or inverse strategies?
No. The fund's investment objective is to track the daily price movements of Brent crude oil on a one-to-one basis. It does not employ leveraged, inverse, or actively managed strategies.
Who manages the United States Brent Oil Fund, LP?
The fund is managed by United States Commodity Funds LLC, which is the commodity pool operator and sponsor. Specific individual portfolio managers are not listed in the fund's public filings as a named investment team.
Where is the fund's principal office located?
The fund's principal office location is not disclosed in publicly available documents. United States Commodity Funds LLC is based in Houston, Texas, though the fund itself is a Delaware limited partnership.
What types of investors typically use this fund?
Retail investors and institutions seeking exposure to Brent crude oil prices use the fund. It provides a liquid vehicle for portfolio diversification, commodity hedging, or speculation without requiring direct futures trading accounts.
How does the fund handle contract roll costs?
The fund rolls its futures positions monthly as contracts near expiration. This process can generate contango or backwardation effects that cause the fund's performance to deviate from spot Brent oil prices over time.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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