United States Brent Oil Fund, LP
Monthly Account Statement
For the Month Ended March 31, 2014
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | 640,470 | ||
| Unrealized Gain (Loss) on Market Value of Futures | (851,100 | ) | ||
| Dividend Income | 121 | |||
| Interest Income | 619 | |||
| ETF Transaction Fees | 1,750 | |||
| Total Income (Loss) | $ | (208,140 | ) | |
| Expenses | ||||
| General Partner Management Fees | $ | 17,029 | ||
| Brokerage Commissions | 1,217 | |||
| Non-interested Directors' Fees and Expenses | 342 | |||
| Prepaid Insurance Expense | 326 | |||
| Other Expenses | 14,011 | |||
| Total Expenses | 32,925 | |||
| Expense Waiver | (10,606 | ) | ||
| Net Expenses | $ | 22,319 | ||
| Net Income (Loss) | $ | (230,459 | ) | |
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 3/1/14 | $ | 26,064,366 | ||
| Additions (150,000 Shares) | 6,463,985 | |||
| Withdrawals (150,000 Shares) | (6,460,968 | ) | ||
| Net Income (Loss) | (230,459 | ) | ||
| Net Asset Value End of Month | $ | 25,836,924 | ||
| Net Asset Value Per Share (600,000 Shares) | $ | 43.06 | ||
To the Limited Partners of United States Brent Oil Fund, LP:
Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended March 31, 2014 is accurate and complete.
| /s/Howard Mah |
Howard Mah
Chief Financial Officer
United States Commodity Funds LLC, General Partner of United States Brent Oil Fund, LP
United States Commodity Funds LLC
1999 Harrison Street, Suite 1530
Oakland, CA 94612