---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-129969"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:19:04.163023+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# US Brent Oil Fund reports Nov 2023 net loss of $7.1M; NAV per share drops to $28.72

## Summary
- Net loss of $7,073,816 for month ended Nov 30, 2023; realized trading loss of $17.3M offset by $9.7M unrealized gain.
- NAV declined from $165.6M to $145.0M; net redemptions of 450,000 shares accounted for $13.5M of the decrease.
- NAV per share fell from $30.10 to $28.72; 5,050,000 shares outstanding at month end.
- Dividend income of $413,071 and interest income of $214,875; total expenses of $131,852.
- Fund had net share redemptions of 450,000 shares (200,000 additions, 650,000 withdrawals).

## SEC filing metadata
- accession: 0001104659-23-129969
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000110465923129969/0001104659-23-129969-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000110465923129969/tm2332808d6_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-129969
- JSON: https://secwatch.observer/filing/0001104659-23-129969.json
- Plain text: https://secwatch.observer/filing/0001104659-23-129969.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.