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BNO does not currently pay a dividend.
See exactly how BNO's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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The fund's primary benchmark is a specific Brent crude oil futures contract traded on the Ice Futures Europe Exchange. This typically refers to the contract closest to its expiry date. However, if this front-month contract is fewer than two weeks away from expiration, the fund will instead reference the futures contract scheduled to expire in the subsequent month.
Brent crude oil prices hit $100 a barrel on Thursday for the first time since May, after reports that Yemen's Iran-backed Houthis struck two Saudi oil tankers in the Red Sea. The attacks compromised a critical alternative route used by vessels bypassing the blockaded Strait of Hormuz, according to CNN.
For much of the past year, global markets have absorbed geopolitical shocks with surprising resilience.
Deepening conflict in the Middle East has sent oil prices surging and Treasury yields climbing to levels that have equity investors on edge, raising fears that pain so far largely contained in the bond market could soon spill over into U.S. stocks.
The price of physical crude oil cargoes in the Middle East, Europe and Africa jumped this week to two-month highs with some nearing $110 a barrel, as supply disruptions linked to the Iran and Ukraine wars left buyers scrambling to secure prompt supply from other sources.
The market for Light Sweet Crude Oil has pulled back just a touch during the trading session here on Friday, as we may have gotten a bit overdone.