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CONTRACTS AND AGREEMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Contractors [Abstract]  
Brokerage Commissions
USL also incurs commissions to brokers for the purchase and sale of Oil Futures Contracts, Other Oil-Related Investments or short-term obligations of the United States of two years or less (“Treasuries”).
  
 
 
For the six
months ended
June 30,
2016
 
 
For the six
months ended
June 30,
2015
 
Total commissions accrued to brokers
 
$
12,416
 
 
$
10,165
 
Total commissions as an annualized percentage of average net assets
 
 
0.02
%
 
 
0.03
%
Commissions accrued as a result of rebalancing
 
$
8,959
 
 
$
6,247
 
Percentage of commissions accrued as a result of rebalancing
 
 
72.16
%
 
 
61.46
%
Commissions accrued as a result of creation and redemption activity
 
$
3,457
 
 
$
3,918
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
27.84
%
 
 
38.54
%