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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2018 using the fair value hierarchy:

At September 30, 2018		Total				Level I				Level II				Level III
Short-Term Investments		$	300,663,124			$	300,663,124			$	—			$	—
Exchange-Traded Futures Contracts
United States Contracts			20,601,460				20,601,460				—				—

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 Accounted for as Hedging Instruments		Condensed Statements of Financial Condition Location		Fair Value At September 30, 2018				Fair Value At December 31, 2017
Futures - Commodity Contracts		Assets		$	20,601,460			$	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 nine months ended September 30, 2018								For the nine months ended September 30, 2017
Derivatives not Accounted for as Hedging Instruments		Location of Gain (Loss) on Derivatives Recognized in Income		Realized Gain (Loss) on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income				Realized Gain (Loss) on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Futures - Commodity Contracts		Realized gain (loss) on closed positions		$	84,114,483							$	(94,356,398	)
		Change in unrealized gain (loss) on open positions						$	(35,120,220	)						$	(56,069,637	)

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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://fasb.org/us-gaap/role/ref/legacyRef
-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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
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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.

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-Publisher FASB
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