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CONTRACTS AND AGREEMENTS (Tables) | 9 Months Ended
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Sep. 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 nine |  |  | For the nine |
|  | months ended |  |  | months ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |
Total commissions accrued to brokers |  | $ | 17,285 |  |  | $ | 15,370 |
Total commissions as an annualized percentage of average net assets |  |  | 0.02 | % |  |  | 0.03 | %
Commissions accrued as a result of rebalancing |  | $ | 13,033 |  |  | $ | 9,525 |
Percentage of commissions accrued as a result of rebalancing |  |  | 75.40 | % |  |  | 61.97 | %
Commissions accrued as a result of creation and redemption activity |  | $ | 4,252 |  |  | $ | 5,845 |
Percentage of commissions accrued as a result of creation and redemption activity |  |  | 24.60 | % |  |  | 38.03 | %

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- Definition Tabular disclosure of fees earned by the broker commission. + References No definition available. + Details
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