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United States Brent Oil Fund (BNO) — chart, structure and Closelook read

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Signals for this name

Every Closelook reading that exists for BNO, from the same nightly bakes the boards use. Research diary readings, not advice.

How it trades on rate days beta −2.41 to TLT · on the worst bond days it held up better than the market

How it trades on rate days

How BNO has moved when long-dated Treasury yields rise — measured against TLT, the 20+ year Treasury fund.

  • Beta to long bonds, 1 year −2.41 — moves strongly against bonds for every 1% move in TLT (20+ year Treasuries), United States Brent Oil Fund moved −2.41% on average · correlation −0.48 · higher than 0% of US names
  • Beta, last 3 months −3.28 less rate-sensitive lately than over the year
  • On the 10 worst bond days +2.40% on average against −0.76% for the S&P 500 the 10 sessions of the past year in which TLT fell most, i.e. long yields rose most
  • Latest of those days +4.23% TLT −1.58% that day 2026-09-23

Daily total returns from the adjusted price series; a TLT down day is a day long yields rose. Beta = the average move of the name for a 1% move in TLT. Past sensitivity, not a forecast. An investment diary, not a recommendation.

Weather around the name 3 macro readings: Money Temperature, Factor regime, Sovereign pressure

The weather around this name

Macro readings that apply by membership — the regime, the factor tape, the sector cell, the funding backdrop.

  • Money Temperature Composite 65/100 · S&P 500 fund at 68, bullish alignedEight instruments scored on position, momentum, volume, volatility and fragility — the regime every name trades inside. Temperature lab → 2026-09-23
  • Factor regime Momentum leading — risk appetite buildingMomentum against low volatility (SPMO / SPLV): above its 50-day trend, 99th percentile of the window, +9.3% over 20 sessions. Factor regime → 2026-09-23
  • Sovereign pressure Index 0.60 · up 0.32 over 21 sessionsG7 long-end yields, 10s30s and the slope — the funding weather for every balance sheet on this site. Sovereign pressure → 2026-09-23

About United States Brent Oil Fund

United States Brent Oil Fund (BNO) is an exchange-traded fund that trades on US exchanges. Closelook tracks it as a benchmark: the dailies and the sector dispersion board quote it as a market reference, and the holdings card above matches its largest positions against the names with a Closelook page. It is a constituent of Closelook benchmark ETF set.

closelook.net is an investment research diary — market structure, index membership and scores are our own readings, not investment advice. Related: index compare · sector dispersion · scanner.

FAQ · from the current data · as of 2026-09-24

Quick answers

What is United States Brent Oil Fund (BNO)?

United States Brent Oil Fund is an exchange-traded fund trading as BNO on the US exchange (US) and is one of the benchmark ETFs Closelook tracks as a market reference, as of the registry build of 2026-09-24.

How does Closelook use BNO?

As a benchmark: the daily editions, the sector dispersion board and the index dashboards quote United States Brent Oil Fund as a market reference, and this page matches the fund's largest holdings against the names Closelook covers so a reader can move from the fund to the companies inside it.

Where does BNO trade against its moving averages?

Uptrend stack intact: Trades +13.6% vs the 50-day and +34.6% vs the 200-day average, 5.7% below the 52-week high and +122.4% off the 52-week low. Computed from daily closes. As of 2026-09-23 — a technical state from the nightly Closelook bake, not advice. The Technical tab carries the full row.

How does United States Brent Oil Fund trade when bond yields rise?

Over the past year United States Brent Oil Fund had a beta of −2.41 to TLT, the long-dated Treasury fund — it moves strongly against bonds, higher than 0% of US names. On the 10 sessions in which long bonds fell most it moved +2.40% on average, against −0.76% for the S&P 500. The "How it trades on rate days" block on this page carries the lines.

Where has Closelook written about United States Brent Oil Fund?

United States Brent Oil Fund appears in 16 Closelook pieces, most recently Morning 10: Rates — the 10-year closes at 5.11% and the 5-year hits 5%; Tokyo reopens higher, chip-equipment makers lead (2026-09-24); Morning 10: Nasdaq - a second record close as memory jumps 5-7% and banks, card networks and software are sold (2026-09-23); Midday 10: Yields — the 10-year is back above 5% on a hot PMI and a hawkish Fed; chips fall, software is bought (2026-09-23). What Closelook said most recently: Three things drove it: the flash purchasing managers' survey at 58.4, the fastest US output growth in more than five years; Fed Governor Michael Barr saying further rate increases are likely needed; and oil rising again, with the Brent… (Morning 10, 2026-09-24). The "Mentioned on Closelook" block on this page lists the long reads, the reference entries and the dailies that name it.

What does this page show?

A live price chart with SMA overlays and drawing tools for BNO, fund basics and the top holdings by weight with the Closelook names among them marked, the technical state where the data exists, and the research diary mentions — an investment research diary view, not investment advice.

Mentioned on Closelook 16 pieces · newest: Morning 10, “Rates — the 10-year closes at 5.11% and the 5-year hits 5%; Tokyo reopens higher, chip-equipment makers lead” (2026-09-24)

Mentioned on Closelook

Where BNO appears in the diary — 16 pieces, newest first. Every link is our own writing.

Dailies