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CONTRACTS AND AGREEMENTS (Tables)
 6 Months Ended
Jun. 30, 2017
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, 2017
 
 
For the six months
ended June 30, 2016
 
Total commissions accrued to brokers
 
$
8,841
 
 
$
12,416
 
Total commissions as an annualized percentage of average total net assets
 
 
0.02
%
 
 
0.02
%
Commissions accrued as a result of rebalancing
 
$
7,074
 
 
$
8,959
 
Percentage of commissions accrued as a result of rebalancing
 
 
80.01
%
 
 
72.16
%
Commissions accrued as a result of creation and redemption activity
 
$
1,767
 
 
$
3,457
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
19.99
%
 
 
27.84
%