NYSE:BNO

Uscommodity Brent Oil Fund Lp Etf ETF News

etoro logo Buy BNO
*Your capital is at risk
$53.94
+1.05 (+1.99%)
At Close: Jun 03, 2026
CNBC's Pippa Stevens joins ‘Squawk on the Street' to report on rising oil prices after Russia announced that it would cut oil output by 500,000 barrels per day in March.
The Kremlin said its decision was in response to Western price caps on Russian oil.
Russia's output cut follows through on earlier threats to retaliate against Western sanctions.
Jeff Currie, Goldman Sachs head of commodity strategy, joins 'Squawk Box' to discuss what commodity means, how investors can think about Russia's decision to cut oil production, and more.
Prices surge more than 2% on Friday and are on track to gain 8% this week.
Russia will reduce its oil output by 500,000 barrels per day in March, Deputy Prime Minister Alexander Novak said on Friday.
Crude prices jumped on Friday after Russia announced a retaliatory move against western price caps with a plan to reduce oil output by 500,000 barrels per day in March.
Crude oil markets have pulled back just a bit during the trading session on Thursday, as the 50-Day EMA has been very resistive.
A jump in U.S. oil inventories and a stronger U.S. Dollar are offsetting the optimism that had been building over recovering Chinese demand.
Oil futures traded slightly higher early Thursday after shaking off a seventh straight weekly rise in U.S. crude inventories during the previous session.
Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China's recovering demand continued to buoy sentiment.
Oil futures settled higher for a third session in a row on Wednesday. The Energy Information Administration reported weekly increases in U.S. crude, gasoline and distillate supplies.
Oil markets continued to rebound after the release of the EIA report.
"Oil prices never went up and copper prices are falling after the initial China reopening excitement fades. Global recession is coming," economist Robin Brooks said.
The price of oil was volatile after the release of the EIA report, but there were no major moves.
Click to get the best stock tips daily for free!

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE