BNOUnited States Brent Oil Fund, LP

United States Brent Oil Fund, LP is a commodity-focused exchange-traded fund designed to provide exposure to Brent crude oil through short-term futures contracts. The fund seeks to reflect the daily price movements of Brent crude by holding near-month ICE Brent futures and, when needed, rolling into the next contract as expiration approaches. As a limited partnership and commodity pool, it is structured for investors seeking a direct link to a major global energy benchmark rather than to oil producers or broader equity markets. United States Brent Oil Fund, LP is used by market participants to gain tactical exposure to crude oil price dynamics, manage energy-sector risk, and express views on Brent’s role in global supply and demand conditions. The fund is managed by US Commodity Funds and focuses exclusively on Brent crude oil exposure through derivatives, cash, and cash-like collateral.