The United States Brent Oil Fund (BNO.US), with a market cap of $159.89 million as of June 27th, 2023, is an exchange-traded fund (ETF) designed to track the daily price movements of Brent crude oil. Launched in 2010 by United States Commodity Funds LLC, it provides investors with easy access to the performance of the global benchmark for crude oil prices without the need to invest directly in futures contracts or physical commodities.
The fund went public in June 2010 and is traded on the New York Stock Exchange. It is managed by John P. Love, CEO and President of United States Commodity Funds LLC. By investing in the ETF, investors may gain exposure to the fluctuations in oil prices and potentially benefit from changes in the global energy market.
Over the past five years, BNO's highest stock price reached $36.84 in March 2022, likely driven by global economic recovery and increased demand for oil. Conversely, the fund's lowest stock price hit $5.91 in April 2020 during the peak of the COVID-19 pandemic, when oil markets faced unprecedented challenges and oversupply concerns.
To analyze its share price history, traders can use various tools and indicators that help identify trends and potential investment opportunities. Technical analysis techniques, such as moving averages, Relative Strength Index (RSI), and Bollinger Bands, may offer insights into the ETF's performance and possible entry or exit points. Additionally, fundamental analysis, including macroeconomic factors, geopolitical events, and global oil supply and demand dynamics, may provide a broader understanding of the market forces influencing the ETF's share price.
By combining technical and fundamental analysis, traders may make informed decisions about investing in US Brent Oil Fund.
Before trading the US Brent Oil Fund ETF, it's crucial to examine its competitors, as this will provide a broader understanding of the energy sector and potential investment opportunities. They include:
- United States Oil Fund (USO.US): A popular ETF that tracks the daily price movements of West Texas Intermediate (WTI) crude oil, offering exposure to the U.S. benchmark for oil prices.
- Energy Select Sector SPDR Fund (XLE.US): This ETF provides exposure to a diversified group of companies within the energy sector, including oil and gas producers, refiners, and equipment manufacturers.
By analyzing US Brent Oil Fund's competitors, investors may better understand the competitive landscape and identify potential risks and opportunities associated with investing in the energy sector. Comparing the performance and strategies of these funds may help investors make informed decisions about trading this ETF and diversifying their portfolios.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying asset.