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Get filing alertsBNO reports $162.4M June loss on $234M realized futures losses, NAV falls to $543.6M
Filed July 29, 2026 · Period ending July 29, 2026 · ~1 min read
Key Changes
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high
Fund posted $162.4M net loss for June 2026, driven by $234M realized losses on Brent oil futures contracts, partially offset by $70.1M unrealized gains on open positions.
Exhibit 99.1 view on EDGAR → -
high
Net asset value declined from $765.1M (June 1) to $543.6M (June 30), with NAV per share at $40.41 on 13.45M shares outstanding.
Exhibit 99.1 view on EDGAR → -
medium
Fund experienced net redemptions of 1.8M shares during June (5.55M withdrawn vs. 3.75M created), representing ~$59M in net outflows.
Exhibit 99.1 view on EDGAR → -
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Monthly account statement filed pursuant to Commodity Exchange Act Rule 4.22, disclosing income/loss and NAV changes as required for commodity pools.
Item 7.01 verify on EDGAR →
Summary
United States Brent Oil Fund reported a $162.4 million net loss for June 2026, driven by $234 million in realized losses on Brent crude oil futures contracts. The fund's commodity trading strategy locked in substantial losses during the month as oil prices moved adversely, though $70.1 million in unrealized gains on still-open positions provided partial offset.
The fund's net asset value fell from $765.1 million at the start of June to $543.6 million at month-end, reflecting both the trading losses and net investor redemptions of 1.8 million shares ($59 million in outflows). NAV per share stood at $40.41 on 13.45 million shares outstanding as of June 30.
For commodity ETF holders, the realized losses represent the cost of maintaining exposure to Brent oil futures during a volatile period. The net redemptions suggest some investors exited positions amid the drawdown. The filing is a routine monthly disclosure required under commodity pool regulations, providing transparency into the fund's performance and asset flows.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
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.
The fund published its routine monthly account statement for June 2026, containing a Statement of Income (Loss) and a Statement of Changes in Net Asset Value. This is a regulatory requirement under Rule 4.22 of the Commodity Exchange Act for commodity pools. The statement is furnished as Exhibit 99.1 and available on the fund's website.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Net Income (Loss) $ (162,401,367 )
The fund reported a net loss of $162.4 million for June 2026. This loss was driven primarily by realized trading losses on commodity futures contracts, partially offset by unrealized gains and modest income from dividends and interest.
Added in current filing · view on EDGAR →
Realized Trading Gain (Loss) on Commodity Futures $ (234,037,190 )
The fund realized a $234 million loss on commodity futures trading during June 2026. This represents the actual losses locked in from closed futures positions during the month, reflecting adverse price movements in Brent oil futures contracts.
Added in current filing · view on EDGAR →
Unrealized Gain (Loss) on Market Value of Commodity Futures 70,126,390
The fund recorded $70.1 million in unrealized gains on open commodity futures positions as of June 30, 2026. This mark-to-market gain on still-open positions partially offset the realized trading losses but does not represent cash received.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 30, 2026 · How we verify