$BNO

ExxonMobil and Chevron reported quarterly results boosted by U.S.-Iran war-driven oil price gains, with Exxon profit up to $14.5B and Chevron net income rising near 400%. U.S. crude averaged above $92 from April to June. Oil and energy ETFs including USO, DBO, BNO, XLE and CRAK saw strong YTD returns, but prices have recently fallen as prospects for easing tensions were discussed by President Trump.

According to economist Justin Wolfers, retail gasoline typically rises quickly after crude oil increases, but falls more slowly after oil declines, due to consumer search behavior and pricing dynamics. After new U.S. strikes related to Strait of Hormuz attacks, WTI rose to $74.16 and Brent to $78.70. Benzinga also cites BNO up 3.91% premarket.

President Donald Trump urged gasoline retailers to cut pump prices immediately, citing falling crude and warning of “big problems” if they don’t. He also criticized California fuel taxes. AAA put U.S. regular at $3.86/gal and California at ~$5.45. WTI and Brent futures were lower; U.S. Brent Oil Fund (BNO) and WTI Oil Fund (USO) rose Monday.

The article says US WTI crude rose from about $57 at the start of 2026 to around $112, nearly doubling, amid Iran-related tensions near the Strait of Hormuz. It highlights three futures ETFs—USO, BNO, and DBO—each tracking different aspects of the oil market, with returns driven by the futures curve and roll yield.

Oil ETFs USO, BNO, DBO, and USL jumped after new U.S. sanctions on Russian oil giants, but oversupply concerns may cap further gains.

OPEC's decision to raise oil output starting September has triggered a pullback in futures-heavy oil ETFs like USO and BNO. Equity-based and globally diversified energy ETFs are showing relative resilience amid oversupply concerns and geopolitical risks. The market's back, and these 3 income ...