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CONTRACTS AND AGREEMENTS (Tables)
 9 Months Ended
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
%