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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Valuation of USNG's Securities Using the Fair Value Hierarchy

The following table summarizes the valuation of UNG’s securities at March 31, 2017 using the fair value hierarchy:

At March 31, 2017		Total			Level I			Level II			Level III
Short-Term Investments		$	424,441,352		$	424,441,352		$	—		$	—
Exchange-Traded Futures Contracts
United States Contracts			22,140,010			22,140,010			—			—

The following table summarizes the valuation of UNG’s securities at December 31, 2016 using the fair value hierarchy:

At December 31, 2016		Total			Level I			Level II			Level III
Short-Term Investments		$	484,298,065		$	484,298,065		$	—		$	—
Exchange-Traded Futures Contracts
United States Contracts			37,435,507			37,435,507			—			—

Fair Value of Derrivative Instruments

Fair Value of Derivative Instruments

		Condensed
Derivatives not Accounted for		Statements of Financial		Fair Value			Fair Value
as Hedging Instruments		Condition Location		At March 31, 2017			At December 31, 2016
Futures - Commodity Contracts		Assets		$	22,140,010		$	37,435,507

Effect of Derivative Instruments on the Statements of Operations

The Effect of Derivative Instruments on the Condensed Statements of Operations

For the three months ended March 31, 2017

For the three months ended March 31, 2016

Change in

Change in

Location of

Realized

Unrealized

Realized

Unrealized

Derivatives not

Gain (Loss)

Gain (Loss)

Gain (Loss)

Gain (Loss)

Gain (Loss)

Accounted for

on Derivatives

on Derivatives

on Derivatives

on Derivatives

on Derivatives

as Hedging

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Instruments

Income

Income

Income

Income

Income

Futures - Commodity Contracts

Realized gain (loss) on closed futures contracts

$

(78,689,338)

$

(7,334,140)

Change in unrealized gain (loss) on open futures contracts

$

(15,295,497)

$

(106,553,296)

X

- References

No definition available.

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The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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