United States Brent Oil Fund posts June 2026 loss

Q: What net income did United States Brent Oil Fund (BNO) report for June 2026?

United States Brent Oil Fund (BNO) reported a net loss of $162,401,367 for the month ended June 30, 2026. This reflected a large realized trading loss on commodity futures, partially offset by unrealized gains, dividends, interest income and relatively modest expenses.

Q: How did BNO’s net asset value change during June 2026?

BNO’s net asset value decreased from $765,054,342 at the beginning of June to $543,576,722 at month end. This movement reflects the monthly net loss plus share creations and redemptions, resulting in a net asset value per share of $40.41 on 13,450,000 shares.

Q: How many United States Brent Oil Fund (BNO) shares were created and redeemed in June 2026?

During June 2026, BNO recorded additions of 3,750,000 shares representing $185,488,149 and withdrawals of 5,550,000 shares representing $244,564,402. These primary market share creations and redemptions contributed to the change in the fund’s total net asset value during the month.

Q: What were BNO’s total expenses for June 2026 and key components?

For June 2026, BNO incurred total expenses of $583,728. These included general partner management fees of $458,116, professional fees of $64,117, brokerage commissions of $53,727, and directors’ fees and insurance of $7,768, reflecting the fund’s operating cost structure for the month.

Q: What trading results did United States Brent Oil Fund (BNO) report on its commodity futures in June 2026?

BNO reported a realized trading loss on commodity futures of $234,037,190 and an unrealized gain of $70,126,390 on the market value of commodity futures for June 2026. Together with income from dividends, interest and ETF transaction fees, these figures drove the fund’s total income (loss).

United States Brent Oil Fund, LP issued its monthly account statement for the month ended June 30, 2026, presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value pursuant to Rule 4.22 under the Commodity Exchange Act.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

The fund recorded a net loss of $162,401,367, driven by a realized trading loss on commodity futures of $234,037,190, partially offset by an unrealized gain of $70,126,390, dividend income of $1,597,912, interest income of $485,099 and ETF transaction fees of $10,150. Total expenses were $583,728. Net asset value began at $765,054,342, reflected additions of $185,488,149 (3,750,000 shares) and withdrawals of $244,564,402 (5,550,000 shares), and ended at $543,576,722, or $40.41 per share based on 13,450,000 shares.

Positive

None.

Negative

Net loss of $162,401,367 in June 2026 driven largely by a realized trading loss on commodity futures of $234,037,190, contributing to a decline in net asset value to $543,576,722.

Filing Explained

The July 29 Form 8-K furnishes, rather than files, the June monthly account statement under Item 7.01; the company says the information is not subject to Section 18 liability or incorporated by reference unless specifically stated.

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 (loss) on commodity futures: $(234,037,190) Unrealized gain on market value of commodity futures: $70,126,390 Total expenses: $583,728 +5 more

8 metrics

Realized trading gain (loss) on commodity futures $(234,037,190) For the month ended June 30, 2026

Unrealized gain on market value of commodity futures $70,126,390 For the month ended June 30, 2026

Total expenses $583,728 For the month ended June 30, 2026

Net income (loss) $(162,401,367) For the month ended June 30, 2026

Net asset value beginning of month $765,054,342 Net asset value at 6/1/26

Net asset value end of month $543,576,722 Net asset value at June 30, 2026

Net asset value per share $40.41 Based on 13,450,000 shares at June 30, 2026

Share additions and withdrawals Additions 3,750,000; withdrawals 5,550,000 Primary market creations and redemptions during June 2026

Key Terms

Commodity Exchange Act, Realized Trading Gain (Loss) on Commodity Futures, Net Asset Value, Emerging growth company, +1 more

5 terms

Commodity Exchange Act regulatory

"as required pursuant to Rule 4.22 under the Commodity Exchange Act"

A federal law that creates the rulebook for trading commodity futures and options, setting standards to prevent market manipulation, fraud, and unfair practices. It matters to investors because those rules and the government oversight that enforces them help keep prices honest, ensure transparent reporting, and reduce the risk that markets will be distorted — similar to traffic laws that make driving safer and more predictable.

Realized Trading Gain (Loss) on Commodity Futures financial

"Realized Trading Gain (Loss) on Commodity Futures $ (234,037,190)"

Net Asset Value financial

"Statement of Changes in Net Asset Value Net Asset Value Beginning of Month"

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.

Emerging growth company regulatory

"405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ... Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Rule 4.22(h) regulatory

"Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents"

FAQ

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

What net income did United States Brent Oil Fund (BNO) report for June 2026?

United States Brent Oil Fund (BNO) reported a net loss of $162,401,367 for the month ended June 30, 2026. This reflected a large realized trading loss on commodity futures, partially offset by unrealized gains, dividends, interest income and relatively modest expenses.

How did BNO’s net asset value change during June 2026?

BNO’s net asset value decreased from $765,054,342 at the beginning of June to $543,576,722 at month end. This movement reflects the monthly net loss plus share creations and redemptions, resulting in a net asset value per share of $40.41 on 13,450,000 shares.

How many United States Brent Oil Fund (BNO) shares were created and redeemed in June 2026?

During June 2026, BNO recorded additions of 3,750,000 shares representing $185,488,149 and withdrawals of 5,550,000 shares representing $244,564,402. These primary market share creations and redemptions contributed to the change in the fund’s total net asset value during the month.

What were BNO’s total expenses for June 2026 and key components?

For June 2026, BNO incurred total expenses of $583,728. These included general partner management fees of $458,116, professional fees of $64,117, brokerage commissions of $53,727, and directors’ fees and insurance of $7,768, reflecting the fund’s operating cost structure for the month.

What trading results did United States Brent Oil Fund (BNO) report on its commodity futures in June 2026?

BNO reported a realized trading loss on commodity futures of $234,037,190 and an unrealized gain of $70,126,390 on the market value of commodity futures for June 2026. Together with income from dividends, interest and ETF transaction fees, these figures drove the fund’s total income (loss).

Where can investors access BNO’s June 2026 monthly account statement?

Investors can access BNO’s June 2026 monthly account statement, which includes the Statement of Income (Loss) and Statement of Changes in Net Asset Value, on the sponsor’s website at www.uscfinvestments.com, where United States Brent Oil Fund, LP makes its monthly information available.

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

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Available on EDGAR 07/29/2026 - 08:36 AM Accepted by SEC EDGAR 07/29/2026 - 08:36 AM

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): July 29, 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 July 29, 2026, United States Brent Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended June 30, 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:	July 29, 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 June 30, 2026

Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Commodity Futures	$	(234,037,190	)
Unrealized Gain (Loss) on Market Value of Commodity Futures		70,126,390
Dividend Income		1,597,912
Interest Income		485,099
ETF Transaction Fees		10,150
Total Income (Loss)	$	(161,817,639	)

Expenses
General Partner Management Fees	$	458,116
Professional Fees		64,117
Brokerage Commissions		53,727
Directors' Fees and Insurance		7,768
Total Expenses	$	583,728
Net Income (Loss)	$	(162,401,367	)

Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 6/1/26	$	765,054,342
Additions (3,750,000 Shares)		185,488,149
Withdrawals (5,550,000 Shares)		(244,564,402	)
Net Income (Loss)		(162,401,367	)

Net Asset Value End of Month	$	543,576,722
Net Asset Value Per Share (13,450,000 Shares)	$	40.41

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 June 30, 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