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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018 using the fair value hierarchy:

At March 31, 2018		Total			Level I			Level II			Level III
Short-Term Investments		$	344,160,351		$	344,160,351		$	—		$	—
Exchange-Traded Futures Contracts
United States Contracts			(356,400)			(356,400)			—			—

During the three months ended March 31, 2018, there were no transfers between Level I and Level II.

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

At December 31, 2017		Total			Level I			Level II			Level III
Short-Term Investments		$	483,194,474		$	483,194,474		$	—		$	—
Exchange-Traded Futures Contracts
United States Contracts			55,721,680			55,721,680			—			—

Fair Value of Derrivative Instruments

Fair Value of Derivative Instruments

Derivatives not		Condensed
Accounted for		Statements of		Fair Value			Fair Value
as Hedging		Financial		At March 31,			At December 31,
Instruments		Condition Location		2018			2017
Futures - Commodity Contracts		Assets		$	(356,400)		$	55,721,680

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

For the three months ended

March 31, 2018

March 31, 2017

Change in

Change in

Location of

Realized

Unrealized

Realized

Unrealized

Derivatives not

Gain (Loss)

Gain (Loss)

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

Accounted for

on Derivatives

on Derivatives

Derivatives

on Derivatives

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 positions

$

67,078,910

$

(78,689,338)

Change in unrealized gain (loss) on open positions

$

(56,078,080)

$

(15,295,497)

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
-URI http://asc.fasb.org/topic&trid=2155941

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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=84234895&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=84234895&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=84234895&loc=SL5624163-113959

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