What was BNO’s net asset value per share on July 31, 2026?

On July 31, 2026, BNO reported a net asset value per share of $50.23, calculated based on 12,250,000 shares outstanding at month end as shown in the Statement of Changes in Net Asset Value.

What were BNO’s share additions and withdrawals in July 2026?

During July 2026, BNO recorded additions of 550,000 shares corresponding to $28,000,756 and withdrawals of 1,750,000 shares corresponding to $(84,259,344), as reflected in the Statement of Changes in Net Asset Value.

United States Brent Oil Fund earns $128M in July

Q: What was BNO’s net income for the month ended July 31, 2026?

BNO reported net income of $127,943,999 for the month ended July 31, 2026. This figure reflects total income of $128,465,895 and total expenses of $521,896, including management fees, professional fees, brokerage commissions, and directors’ fees and insurance.

Q: How did BNO’s net asset value change in July 2026?

BNO’s net asset value was $543,576,722 at the beginning of July 2026 and $615,262,133 at month end. These figures incorporate additions of $28,000,756, withdrawals of $84,259,344, and net income of $127,943,999 during the month.

Q: What were BNO’s main sources of income in July 2026?

BNO’s main income sources were realized trading gain on commodity futures of $86,247,780, unrealized gain on market value of commodity futures of $40,462,870, dividend income of $1,243,140, interest income of $505,455, and ETF transaction fees of $6,650.

Q: How much did BNO pay in expenses during July 2026?

BNO’s total expenses were $521,896 in July 2026. This included general partner management fees of $386,213, professional fees of $84,855, brokerage commissions of $39,244, and directors’ fees and insurance of $11,584.

United States Brent Oil Fund, LP (BNO) reported its monthly account statement for the month ended July 31, 2026.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

United States Brent Oil Fund, LP (BNO) reported its monthly account statement for the month ended July 31, 2026. The fund generated $128,465,895 in total income, driven mainly by realized trading gains on commodity futures of $86,247,780 and unrealized gains of $40,462,870.

Total expenses were $521,896, resulting in net income of $127,943,999 for the month. Net asset value was $543,576,722 at the beginning of July and $615,262,133 at month end, with a net asset value per share of $50.23 based on 12,250,000 shares.

Positive

Net income of $127,943,999 was recorded for July 2026, indicating strong profitability for the period.
Net asset value increased from $543,576,722 at July 1, 2026 to $615,262,133 at month end, showing growth in the fund’s assets during the month.

Negative

None.

Filing Explained

July’s statement adds share-flow mechanics: 550,000 shares were added and 1,750,000 were withdrawn during the month.

This August 28, 2026 Form 8-K furnishes BNO’s monthly account statement for the month ended July 31, 2026; the report records 550,000 shares added and 1,750,000 withdrawn, with 12,250,000 shares outstanding at month-end.

The filing states that the information, including Exhibit 99.1, is furnished rather than deemed filed for Section 18 purposes, so this document provides the monthly disclosure without that filing status.

The account statement identifies $28,000,756 of additions and $84,259,344 of withdrawals, separate from the investment gains and net asset value figures already reported in the statement.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Realized trading gain on commodity futures: $86,247,780 Unrealized gain on market value of commodity futures: $40,462,870 Total income: $128,465,895 +5 more

8 metrics

Realized trading gain on commodity futures $86,247,780 Income for the month ended July 31, 2026

Unrealized gain on market value of commodity futures $40,462,870 Income for the month ended July 31, 2026

Total income $128,465,895 Month ended July 31, 2026

Total expenses $521,896 Month ended July 31, 2026

Net income $127,943,999 Month ended July 31, 2026

Net asset value beginning of month $543,576,722 As of July 1, 2026

Net asset value end of month $615,262,133 As of July 31, 2026

Net asset value per share $50.23 Based on 12,250,000 shares at July 31, 2026

Key Terms

Net Asset Value, Realized Trading Gain (Loss) on Commodity Futures, Unrealized Gain (Loss) on Market Value of Commodity Futures, General Partner Management Fees, +1 more

5 terms

Net Asset Value financial

"Statement of Changes in Net Asset Value"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

Realized Trading Gain (Loss) on Commodity Futures financial

"Realized Trading Gain (Loss) on Commodity Futures | | $ | 86,247,780"

Unrealized Gain (Loss) on Market Value of Commodity Futures financial

"Unrealized Gain (Loss) on Market Value of Commodity Futures | | | 40,462,870"

General Partner Management Fees financial

"General Partner Management Fees | | $ | 386,213"

ETF Transaction Fees financial

"ETF Transaction Fees | | | 6,650"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was BNO’s net income for the month ended July 31, 2026?

BNO reported net income of $127,943,999 for the month ended July 31, 2026. This figure reflects total income of $128,465,895 and total expenses of $521,896, including management fees, professional fees, brokerage commissions, and directors’ fees and insurance.

How did BNO’s net asset value change in July 2026?

BNO’s net asset value was $543,576,722 at the beginning of July 2026 and $615,262,133 at month end. These figures incorporate additions of $28,000,756, withdrawals of $84,259,344, and net income of $127,943,999 during the month.

What were BNO’s main sources of income in July 2026?

BNO’s main income sources were realized trading gain on commodity futures of $86,247,780, unrealized gain on market value of commodity futures of $40,462,870, dividend income of $1,243,140, interest income of $505,455, and ETF transaction fees of $6,650.

How much did BNO pay in expenses during July 2026?

BNO’s total expenses were $521,896 in July 2026. This included general partner management fees of $386,213, professional fees of $84,855, brokerage commissions of $39,244, and directors’ fees and insurance of $11,584.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/28/2026 - 08:45 AM EDT Accepted by SEC EDGAR 08/28/2026 - 08:27 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 28, 2026

UNITED STATES BRENT OIL FUND, LP

(Exact name of registrant as specified in its charter)

Delaware	001-34704	27-0925904
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, California 94596

(510) 522-9600	(Address of principal executive offices) (Zip Code)
Registrant’s telephone number,
including area code

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨    Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered:
Shares of United States Brent Oil Fund, LP		BNO		NYSE Arca, Inc.

Item 7.01. Regulation FD Disclosure.

On August 28, 2026, United States Brent Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended July 31, 2026, which is presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required pursuant to Rule 4.22 under the Commodity Exchange Act. A copy of the monthly account statement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and also can be found on the Registrant’s website at www.uscfinvestments.com. The information furnished in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 99.1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		UNITED STATES BRENT OIL FUND, LP

		By:	United States Commodity Funds LLC, its general partner

Date:	August 28, 2026	By:	/s/ Stuart P. Crumbaugh
		Name:	Stuart P. Crumbaugh
		Title:	Chief Financial Officer

Exhibit 99.1

United States Brent Oil Fund, LP

Monthly Account Statement

For the Month Ended July 31, 2026

Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Commodity Futures	$	86,247,780
Unrealized Gain (Loss) on Market Value of Commodity Futures		40,462,870
Dividend Income		1,243,140
Interest Income		505,455
ETF Transaction Fees		6,650
Total Income (Loss)	$	128,465,895

Expenses
General Partner Management Fees	$	386,213
Professional Fees		84,855
Brokerage Commissions		39,244
Directors' Fees and Insurance		11,584
Total Expenses	$	521,896
Net Income (Loss)	$	127,943,999

Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 7/1/26	$	543,576,722
Additions (550,000 Shares)		28,000,756
Withdrawals (1,750,000 Shares)		(84,259,344	)
Net Income (Loss)		127,943,999

Net Asset Value End of Month	$	615,262,133
Net Asset Value Per Share (12,250,000 Shares)	$	50.23

To the Limited Partners of United States Brent Oil Fund, LP:

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended July 31, 2026 is accurate and complete.

/s/ Stuart P. Crumbaugh
Stuart P. Crumbaugh
Chief Financial Officer

United States Commodity Funds LLC, General Partner of United States Brent Oil Fund, LP

United States Commodity Funds LLC

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, CA 94596

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

EX-99.1 EXHIBIT 99.1 14.3 KB