<SEC-DOCUMENT>0001144204-18-042858.txt : 20180808
<SEC-HEADER>0001144204-18-042858.hdr.sgml : 20180808
<ACCEPTANCE-DATETIME>20180808163834
ACCESSION NUMBER:		0001144204-18-042858
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		50
CONFORMED PERIOD OF REPORT:	20180630
FILED AS OF DATE:		20180808
DATE AS OF CHANGE:		20180808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			United States 12 Month Oil Fund, LP
		CENTRAL INDEX KEY:			0001405528
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				260431897
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33859
		FILM NUMBER:		181001944

	BUSINESS ADDRESS:	
		STREET 1:		1999 HARRISON STREET
		STREET 2:		SUITE 1530
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94612
		BUSINESS PHONE:		(510) 522-9600

	MAIL ADDRESS:	
		STREET 1:		1999 HARRISON STREET
		STREET 2:		SUITE 1530
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94612
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>tv499183_10q.htm
<DESCRIPTION>10-Q
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 10-Q</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD><TD STYLE="text-align: justify"><B>Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for
the quarterly period ended June 30, 2018.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD STYLE="text-align: justify"><B>Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for
the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission file number: 001-33859</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>United States 12 Month Oil Fund, LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center"><B>26-0431897</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>(State or other jurisdiction of</B></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><B>(I.R.S. Employer</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>incorporation or organization)</B></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><B>Identification No.)</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1999 Harrison Street, Suite 1530</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Oakland, California 94612</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices)
(Zip code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(510) 522-9600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s telephone number, including
area code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former name, former address and former fiscal
year, if changed since last report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. <FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT>&nbsp;&nbsp;Yes <FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>&nbsp;&nbsp;No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files). <FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT>&nbsp;&nbsp;Yes
<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>&nbsp;&nbsp;No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%">Large accelerated filer</TD>
    <TD STYLE="width: 44%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 25%">Accelerated filer</TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Non-accelerated filer</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>&nbsp;&nbsp;(Do not check if a smaller reporting company)</TD>
    <TD>Smaller reporting company</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Emerging growth company</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act). <FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>&nbsp;&nbsp;Yes
<FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT>&nbsp;&nbsp;No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The registrant had 3,200,000 outstanding shares as of August
6, <FONT STYLE="font-weight: normal">2018</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES 12 MONTH OIL FUND, LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Table of Contents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_001"><B>Part I. FINANCIAL INFORMATION</B></A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_002">Item 1. Condensed Financial Statements.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_002">1</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003">Item 2. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_003">16</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_004">Item 3. Quantitative and Qualitative Disclosures About Market Risk.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_004">34</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_005">Item 4. Controls and Procedures.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_005">35</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_006"><B>Part II. OTHER INFORMATION</B></A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_007">Item 1. Legal Proceedings.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_007">35</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_008">Item 1A. Risk Factors.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_008">35</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_009">Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_009">35</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_010">Item 3. Defaults Upon Senior Securities.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_010">36</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_011">Item 4. Mine Safety Disclosures.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_011">36</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_012">Item 5. Other Information.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_012">36</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_013">Item 6. Exhibits.</A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_013">36</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_001"></A>Part I. FINANCIAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_002"></A>Item 1. Condensed Financial Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Index to Condensed Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid"><B>Documents</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_001">Condensed Statements of Financial Condition at June 30, 2018 (Unaudited) and December 31, 2017</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_001">2</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_002">Condensed Schedule of Investments (Unaudited) at June 30, 2018</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_002">3</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_003">Condensed Statements of Operations (Unaudited) for the three and six months ended June 30, 2018 and 2017</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_003">5</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_004">Condensed Statement of Changes in Partners&rsquo; Capital (Unaudited) for the six months ended June 30, 2018</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_004">6</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_005">Condensed Statements of Cash Flows (Unaudited) for the six months ended June 30, 2018 and 2017</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_005">7</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_006">Notes to Condensed Financial Statements for the period ended June 30, 2018 (Unaudited)</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#fin_006">8</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="fin_001"></A><I>United States 12 Month Oil Fund, LP</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Condensed Statements of Financial Condition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>At June 30, 2018 (Unaudited) and December 31, 2017</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.5in; padding-left: 0.5in">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 64%; text-align: left; text-indent: -0.5in; padding-left: 0.5in">Cash and cash equivalents (at cost
    $79,031,716 and $83,241,625, respectively) (Notes 2 and 5)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">79,031,716</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">83,241,625</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Equity in trading accounts:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Cash and cash equivalents (at cost $4,977,569 and $4,988,459, respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,977,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,988,459</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Unrealized gain (loss) on open commodity futures contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,534,641</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,072,567</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Dividends receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,611</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,769</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Interest receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,291</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,694</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.5in; padding-left: 0.5in">Directors' fees and insurance receivable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,320</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.5in; padding-left: 0.5in">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 2.5pt; padding-left: 0.5in">Total assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100,569,148</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">99,322,114</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.5in; padding-left: 0.5in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.5in; padding-left: 0.5in">Liabilities and Partners' Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Payable due to Broker</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,206,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,565,281</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">General Partner management fees payable (Note 3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,206</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,592</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Professional fees payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145,177</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Brokerage commissions payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,362</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.5in; padding-left: 0.5in">Directors' fees and insurance payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,014</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.5in; padding-left: 0.5in">License fees payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,339</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,786</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Total liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,325,678</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,768,212</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><b>Commitments and Contingencies</b>&nbsp;(Notes 3, 4 and 5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Partners' Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0.25in">General Partner</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 0.25in">Limited Partners</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,243,470</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">91,553,902</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; text-indent: 0.25in">Total Partners' Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,243,470</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">91,553,902</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0.5in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 2.5pt; text-indent: 0.5in">Total liabilities and partners' capital</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100,569,148</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">99,322,114</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0.5in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 0.5in">Limited Partners' shares outstanding</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,400,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,350,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 0.5in">Net asset value per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25.37</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21.05</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 0.5in">Market value per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25.32</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">20.92</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See accompanying notes to condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I><A NAME="fin_002"></A>United States 12 Month Oil Fund, LP</I></B><BR>
<B><I>Condensed Schedule of Investments (Unaudited)</I></B><BR>
<B><I>At June 30, 2018</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Notional<BR> Amount</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Contracts</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Value/ <BR> Unrealized Gain<BR> (Loss) on Open<BR> Commodity<BR>
Contracts</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of<BR> Partners'<BR> Capital</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Open Futures Contracts -
    Long</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">United States Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL August 2018 contracts, expiring July 2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,057,822</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">105</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,727,928</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">3.16</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL September 2018 contracts, expiring August 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,216,363</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,319,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.69</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL October 2018 contracts, expiring September 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,318,326</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,057,354</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.39</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL November 2018 contracts, expiring October 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,240,137</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,056,503</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.38</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL December 2018 contracts, expiring November 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,736,457</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,490,503</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL January 2019 contracts, expiring December 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,810,066</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,419,184</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.65</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL February 2019 contracts, expiring January 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,100,906</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">988,774</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.15</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL March 2019 contracts, expiring February 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,040,493</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">985,747</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.14</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL April 2019 contracts, expiring March 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,064,199</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">972,901</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL May 2019 contracts, expiring April 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,065,154</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">853,966</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.99</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL June 2019 contracts, expiring May 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,585,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">287,534</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.33</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">NYMEX WTI Crude Oil Futures CL July 2019 contracts, expiring June 2019</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,512,180</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">105</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">374,770</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.43</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Open Futures Contracts*</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,747,929</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,252</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16,534,641</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19.17</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>United States 12 Month Oil Fund, LP</I></B><BR>
<B><I>Condensed Schedule of Investments (Unaudited)(Continued)</I></B><BR>
<B><I>At June 30, 2018</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Principal<BR> Amount</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Market<BR> Value</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of<BR> Partners'<BR> Capital</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">United States Treasury Obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">U.S. Treasury Bills:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%">1.56%, 7/05/2018</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,999,483</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3.48</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.56%, 7/12/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,999,053</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.32</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.60%, 7/19/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,998,410</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.32</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.61%, 7/26/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,995,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.63</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.63%, 8/02/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,995,680</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.47</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.71%, 8/09/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,996,327</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.77%, 8/16/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,993,272</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.47</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.82%, 8/23/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,992,050</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.47</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.82%, 8/30/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,990,975</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.47</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.85%, 9/06/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,993,188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.90%, 9/13/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,992,251</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.92%, 9/20/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,991,428</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.90%, 9/27/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,990,821</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.87%, 10/04/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,990,210</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>1.90%, 10/11/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,989,347</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>1.97%, 10/18/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,988,192</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>2.00%, 10/25/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,987,240</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>2.00%, 11/01/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,986,470</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>2.03%, 11/08/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,985,519</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>2.05%, 11/15/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,976,824</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.45</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>2.07%, 11/23/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,983,486</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>2.05%, 11/29/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,983,013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>2.09%, 12/06/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,972,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.45</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>2.06%, 12/13/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,971,950</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.45</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>2.09%, 12/20/2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,970,330</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.44</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">2.07%, 12/27/2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,969,421</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3.44</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Treasury Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">63,683,254</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">73.84</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">United States - Money Market Funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Fidelity Investments Money Market Funds - Government Portfolio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.97</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Goldman Sachs Financial Square Funds - Government Fund - Class FS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.48</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Morgan Stanley Institutional Liquidity Funds - Government Portfolio</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,000,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">8,000,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">9.28</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Money Market Funds</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">19,600,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">22.73</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Cash Equivalents</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">83,283,254</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">96.57</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: gray">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%"><FONT STYLE="color: black">*</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="color: black">Collateral amounted to $4,977,569 on open futures contracts.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See accompanying notes to condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I><A NAME="fin_003"></A>United States 12 Month Oil Fund, LP</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Condensed Statements of Operations (Unaudited)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>For the three and six months ended June 30, 2018 and 2017</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Three
    months ended<BR> June 30, 2018</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Three
    months ended<BR> June 30, 2017</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Six
    months ended<BR> June 30, 2018</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Six
    months ended<BR> June 30, 2017</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Income</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Gain (loss) on trading
    of commodity futures contracts:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 34%; text-align: left; text-indent: -0.25in; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Realized
    gain (loss) on closed futures contracts</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 10pt">5,789,281</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 10pt">474,575</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 10pt">10,264,256</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 10pt">6,619,094</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Change in unrealized
    gain (loss) on open futures contracts</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,598,029</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(10,335,615</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,462,074</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(27,523,684</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Dividend income</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60,127</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">43,444</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">114,237</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">86,469</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Interest income*</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">287,399</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">144,453</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">528,254</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">252,931</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">ETF
    transaction fees</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,050</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,800</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3,500</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">4,550</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Total
    income (loss)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">9,735,886</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(9,670,343</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">16,372,321</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(20,560,640</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Expenses</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">General Partner management
    fees (Note 3)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">126,585</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">159,419</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">253,881</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">332,486</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Professional fees</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">36,319</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">53,800</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">74,415</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">125,800</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Brokerage commissions</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,645</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,709</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,219</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,841</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Directors' fees and
    insurance</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,583</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,468</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6,814</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6,588</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">License
    fees</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3,165</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3,985</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">6,347</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">8,312</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Total
    expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">172,297</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">225,381</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">344,676</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">482,027</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 1.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Net
    income (loss)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">9,563,589</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(9,895,724</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">16,027,645</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(21,042,667</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Net income (loss) per
    limited partnership share</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">2.72</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(1.73</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">4.32</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(3.60</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Net income (loss) per weighted average
    limited partnership share</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">2.70</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(1.63</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">4.28</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">(3.48</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Weighted average limited partnership shares
    outstanding</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">3,541,758</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">6,056,044</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">3,746,133</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">6,047,790</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* Interest income does not exceed paid in kind of 5%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See accompanying notes to condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I><A NAME="fin_004"></A>United States 12 Month Oil Fund, LP</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Condensed Statement of Changes in Partners' Capital (Unaudited)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>For the six months ended June 30, 2018</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">General Partner</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Limited Partners</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 49%; font-weight: bold">Balances, at December 31, 2017</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">91,553,902</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">91,553,902</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Redemption of 950,000 partnership shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(21,338,077</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(21,338,077</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net income (loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,027,645</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,027,645</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balances, at June 30, 2018</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">86,243,470</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">86,243,470</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Net Asset Value Per Share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">At December 31, 2017</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21.05</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">At June 30, 2018</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25.37</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See accompanying notes to condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="fin_005"></A><B><I>United States 12 Month Oil Fund, LP</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Condensed Statements of Cash Flows (Unaudited)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>For the six months ended June 30, 2018 and 2017</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six months ended<BR> June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Six months ended<BR> June 30, 2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Cash Flows from Operating Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 64%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Net income (loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">16,027,645</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">(21,042,667</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Unrealized (gain) loss on open futures contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,462,074</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,523,684</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">(Increase) decrease in dividends receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,842</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,127</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">(Increase) decrease in interest receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">403</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">(Increase) decrease in directors' fees and insurance receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,320</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,146</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in payable due to Broker</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,641,221</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,112,791</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in General Partner management fees payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,386</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,761</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in professional fees payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(73,408</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(31,957</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in brokerage commissions payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,500</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in directors' fees and insurance payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,014</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,439</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.5in">Increase (decrease) in license fees payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(447</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,988</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.75in">Net cash provided by (used in) operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,117,278</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(8,684,192</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Cash Flows from Financing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in">Addition of partnership shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,440,164</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Redemption of partnership shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(21,338,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,639,335</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.75in">Net cash provided by (used in) financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(21,338,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,800,829</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Net Increase (Decrease) in Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,220,799</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">116,637</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in"><b>Total Cash,
    Cash Equivalents and Equity in Trading Accounts</b>, beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">88,230,084</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">124,370,598</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in"><b>Total Cash, Cash Equivalents and Equity in Trading Accounts</b>, end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">84,009,285</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">124,487,235</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Components of Cash and Cash Equivalents:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">79,031,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">98,798,423</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Equity in Trading Accounts:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.5in">Cash and Cash Equivalents</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,977,569</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,688,812</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Total Cash, Cash Equivalents and Equity in Trading Accounts</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">84,009,285</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">124,487,235</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See accompanying notes to condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><A NAME="fin_006"></A>United States 12 Month Oil Fund, LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Notes to Condensed Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>For the period ended June 30, 2018 (Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>NOTE 1 &mdash; ORGANIZATION AND BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The United States 12 Month Oil Fund, LP (&ldquo;USL&rdquo;)
was organized as a limited partnership under the laws of the state of Delaware on June 27, 2007. USL is a commodity pool that issues
limited partnership shares (&ldquo;shares&rdquo;) that may be purchased and sold on the NYSE Arca, Inc. (the &ldquo;NYSE Arca&rdquo;).
Prior to November 25, 2008, USL&rsquo;s shares traded on the American Stock Exchange (the &ldquo;AMEX&rdquo;). USL will continue
in perpetuity, unless terminated sooner upon the occurrence of one or more events as described in its Third Amended and Restated
Agreement of Limited Partnership dated as of December 15, 2017 (the &ldquo;LP Agreement&rdquo;). The investment objective of USL
is for the daily changes in percentage terms of its shares&rsquo; per share net asset value (&ldquo;NAV&rdquo;) to reflect the
daily changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily
changes in the average of the prices of the 12 futures contracts for light, sweet crude oil traded on the New York Mercantile Exchange
(the &ldquo;NYMEX&rdquo;) consisting of the near month contract to expire and the contracts for the following 11 months for a total
of 12 consecutive months&rsquo; contracts, except when the near month contract is within two weeks of expiration, in which case
it will be measured by the futures contract that is the next month contract to expire and the contracts for the following 11 consecutive
months (the &ldquo;Benchmark Oil Futures Contracts&rdquo;), less USL&rsquo;s expenses. When calculating the daily movement of the
average price of the 12 contracts, each contract month will be equally weighted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&rsquo;s investment objective is <I>not</I>
for its NAV or market price of shares to equal, in dollar terms, the spot price of light, sweet crude oil or any particular futures
contract based on light, sweet crude oil, <I>nor</I> is USL&rsquo;s investment objective for the percentage change in its NAV to
reflect the percentage change of the price of any particular futures contract as measured over a time period <I>greater than one
day</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">United States Commodity Funds LLC (&ldquo;USCF&rdquo;),
the general partner of USL, believes that it is not practical to manage the portfolio to achieve such an investment goal when investing
in Oil Futures Contracts (as defined below) and Other Oil-Related Investments (as defined below). USL accomplishes its objective
through investments in futures contracts for light, sweet crude oil and other types of crude oil, diesel-heating oil, gasoline,
natural gas and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other U.S. and foreign exchanges (collectively,
&ldquo;Oil Futures Contracts&rdquo;) and other oil-related investments such as cash-settled options on Oil Futures Contracts, forward
contracts for oil, cleared swap contracts and over-the-counter (&ldquo;OTC&rdquo;) transactions that are based on the price of
crude oil, diesel-heating oil, gasoline, natural gas and other petroleum-based fuels, Oil Futures Contracts and indices based on
the foregoing (collectively, &ldquo;Other Oil-Related Investments&rdquo;). As of June 30, 2018, USL held 1,252 Oil Futures Contracts
for light, sweet crude oil traded on the NYMEX and did not hold any Oil Futures Contracts traded on the ICE Futures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL commenced investment operations on December
6, 2007 and has a fiscal year ending on December 31. USCF is responsible for the management of USL. USCF is a member of the National
Futures Association (the &ldquo;NFA&rdquo;) and became registered as a commodity pool operator with the Commodity Futures Trading
Commission (the &ldquo;CFTC&rdquo;) effective December 1, 2005 and a swaps firm on August 8, 2013. USCF is also the general partner
of the United States Oil Fund, LP (&ldquo;USO&rdquo;), the United States Natural Gas Fund, LP (&ldquo;UNG&rdquo;), the United States
Gasoline Fund, LP (&ldquo;UGA&rdquo;) and the United States Diesel-Heating Oil Fund, LP (&ldquo;UHN&rdquo;), which listed their
limited partnership shares on the AMEX under the ticker symbols &ldquo;USO&rdquo; on April 10, 2006, &ldquo;UNG&rdquo; on April
18, 2007, &ldquo;UGA&rdquo; on February 26, 2008 and &ldquo;UHN&rdquo; on April 9, 2008, respectively. As a result of the acquisition
of the AMEX by NYSE Euronext, each of USO&rsquo;s, UNG&rsquo;s, UGA&rsquo;s and UHN&rsquo;s shares commenced trading on the NYSE
Arca on November 25, 2008. USCF is also the general partner of the United States Short Oil Fund, LP (&ldquo;DNO&rdquo;), the United
States 12 Month Natural Gas Fund, LP (&ldquo;UNL&rdquo;) and the United States Brent Oil Fund, LP (&ldquo;BNO&rdquo;), which listed
their limited partnership shares on the NYSE Arca under the ticker symbols &ldquo;DNO&rdquo; on September 24, 2009, &ldquo;UNL&rdquo;
on November 18, 2009 and &ldquo;BNO&rdquo; on June 2, 2010, respectively. USCF is also the sponsor of the United States Commodity
Index Fund (&ldquo;USCI&rdquo;), the United States Copper Index Fund (&ldquo;CPER&rdquo;), the United States Agriculture Index
Fund (&ldquo;USAG&rdquo;) and the USCF Canadian Crude Oil Index Fund (&ldquo;UCCO&rdquo;), each a series of the United States Commodity
Index Funds Trust. USCI, CPER and USAG listed their shares on the NYSE Arca under the ticker symbols &ldquo;USCI&rdquo; on August
10, 2010, &ldquo;CPER&rdquo; on November 15, 2011 and &ldquo;USAG&rdquo; on April 13, 2012, respectively. UCCO is currently in
registration and has not commenced operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, USCF is the sponsor of the USCF
Funds Trust, a Delaware statutory trust, and each of its series, the United States 3x Oil Fund (&ldquo;USOU&rdquo;) and the United
States 3x Short Oil Fund (&ldquo;USOD&rdquo;), which commenced operations on July 20, 2017. Two separate series of the USCF Funds
Trust, the REX S&amp;P MLP Fund (&ldquo;RMLP&rdquo;) and the REX S&amp;P MLP Inverse Fund (&ldquo;MLPD&rdquo; and together with
RMLP, the &ldquo;REX Funds&rdquo;), which were in registration and had not commenced operations, filed to withdraw from registration
on March 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All funds listed previously, other than UCCO
and the REX Funds, are referred to collectively herein as the &ldquo;Related Public Funds.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL issues shares to certain authorized purchasers
(&ldquo;Authorized Participants&rdquo;) by offering baskets consisting of 50,000 shares (&ldquo;Creation Baskets&rdquo;) through
ALPS Distributors, Inc., as the marketing agent (the &ldquo;Marketing Agent&rdquo;). The purchase price for a Creation Basket is
based upon the NAV of a share calculated shortly after the close of the core trading session on the NYSE Arca on the day the order
to create the basket is properly received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, Authorized Participants pay USL
a $350 fee for each order placed to create one or more Creation Baskets or to redeem one or more baskets (&ldquo;Redemption Baskets&rdquo;),
consisting of 50,000 shares. Shares may be purchased or sold on a nationally recognized securities exchange in smaller increments
than a Creation Basket or Redemption Basket. Shares purchased or sold on a nationally recognized securities exchange are not purchased
or sold at the per share NAV of USL but rather at market prices quoted on such exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 4, 2007, USL initially registered
11,000,000 shares on Form S-1 with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;). On December 6, 2007, USL
listed its shares on the AMEX under the ticker symbol &ldquo;USL&rdquo; and switched to trading on the NYSE Arca under the same
ticker symbol on November 25, 2008. On that day, USL established its initial per share NAV by setting the price at $50.00 and issued
300,000 shares in exchange for $15,000,000. USL also commenced investment operations on December 6, 2007, by purchasing Oil Futures
Contracts traded on the NYMEX based on light, sweet crude oil. As of June 30, 2018, USL had registered a total of 111,000,000 shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed financial
statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the SEC and, therefore, do not include
all information and footnote disclosure required under generally accepted accounting principles in the United States of America
(&ldquo;U.S. GAAP&rdquo;). The financial information included herein is unaudited; however, such financial information reflects
all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of USCF, necessary for the fair presentation
of the condensed financial statements for the interim period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 2 &mdash; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements have been prepared
in conformity with U.S. GAAP as detailed in the Financial Accounting Standards Board&rsquo;s (&ldquo;FASB&rdquo;) Accounting Standards
Codification.&nbsp;USL is an investment company and follows the accounting and reporting guidance in FASB Topic 946.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Revenue Recognition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Commodity futures contracts, forward contracts,
physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost
basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the&nbsp;condensed statements of
financial condition and represent the difference between the original contract amount and the market value (as determined by exchange
settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts,
physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed
financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations.&nbsp;USL
earns income on funds held at the custodian or futures commission merchant (&ldquo;FCM&rdquo;) at prevailing market rates earned
on such investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Brokerage Commissions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Brokerage commissions on all open commodity
futures contracts are accrued on a full-turn basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL is&nbsp;not subject to federal income taxes;
each&nbsp;partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with U.S. GAAP, USL is required
to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority,
including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. USL&nbsp;files
an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states.&nbsp;USL is not&nbsp;subject
to income tax return examinations by major taxing authorities for years before 2014. The tax benefit recognized is measured as
the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition
of a tax benefit previously recognized results in&nbsp;USL recording a tax liability that reduces net assets. However, USL's conclusions
regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going
analysis of and changes to tax laws, regulations and interpretations thereof.&nbsp;USL recognizes interest accrued related to unrecognized
tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or
penalties have been recognized as of and for the&nbsp;period ended June 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Creations and Redemptions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Authorized Participants&nbsp;may purchase Creation
Baskets or redeem Redemption Baskets only in blocks of&nbsp;50,000 shares at a price equal to the NAV of the shares calculated
shortly after the close of the core trading session on the NYSE Arca on the day the order is placed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL receives or pays&nbsp;the proceeds from
shares sold or redeemed within two business days after the trade date of the purchase or redemption. The amounts due from Authorized
Participants are reflected in USL's condensed statements of financial condition as receivable for shares sold, and amounts payable
to Authorized Participants upon redemption are reflected as payable for shares redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Authorized Participants pay USL a transaction
fee of $350 for each order placed to create one or more Creation Baskets or to redeem one or more Redemption Baskets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Partnership Capital and Allocation of Partnership
Income and Losses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Profit or loss shall be allocated among the
partners of USL in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter
or otherwise modify this method of allocation as described in the LP Agreement.<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Calculation of Per Share NAV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's per share NAV is calculated on each NYSE
Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by
the total number of shares outstanding. USL uses the closing price for the contracts on the relevant exchange on that day to determine
the value of contracts held on such exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Net Income (Loss) Per Share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net income (loss) per share is the difference
between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares
outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are
equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based
on the amount of time the shares were outstanding during such period.&nbsp;There were no shares held by USCF at June 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Offering Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Offering costs incurred in connection with
the registration of additional shares after the initial registration of shares&nbsp;are borne by USL. These costs include registration
fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings.&nbsp;These
costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or
a shorter period if warranted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cash Equivalents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash equivalents include money market funds
and overnight deposits or time deposits with original maturity dates of six months or less.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Reclassification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain amounts in the accompanying condensed
financial statements were&nbsp;reclassified to conform to the current presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Use of Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of condensed financial statements
in conformity with U.S. GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts
of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>New Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2016, the FASB issued Accounting
Standards Update No. 2016-18, &ldquo;Statement of Cash Flows (Topic 230): Restricted Cash&rdquo; (&ldquo;ASU 2016-18&rdquo;), which
amends ASC 230 to provide guidance on the classification and presentation of changes in restricted cash and restricted cash equivalents
on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods
within those annual periods. At this time, management has evaluated the implications of these changes on the financial statements
and adopted with no material impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 3 &mdash; FEES PAID BY THE FUND&nbsp;AND
RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>USCF Management Fee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the&nbsp;LP Agreement, USCF is responsible
for investing the assets of&nbsp;USL in accordance with the objectives and policies of USL. In addition, USCF has arranged for
one or more third parties to provide administrative, custody, accounting, transfer agency and other necessary services to USL.
For these services,&nbsp;USL is&nbsp;contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60%&nbsp;per
annum of average daily total net assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Ongoing Registration Fees and Other Offering Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL pays all costs and expenses associated
with the ongoing registration of its shares subsequent to the initial offering. These costs include registration or other fees
paid to regulatory agencies in connection with the offer and sale of shares, and all legal, accounting, printing and other expenses
associated with such offer and sale. For the six months ended June 30, 2018 and 2017, USL did not incur registration fees and other
offering expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Independent Directors&rsquo; and Officers&rsquo;
Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL is responsible for paying its portion of
the directors&rsquo; and officers&rsquo; liability insurance for USL and the Related Public Funds and the fees and expenses of
the independent directors who also serve as audit committee members of USL and the Related Public Funds.&nbsp;USL shares the fees
and expenses on a pro rata basis with each Related Public Fund, as described above, based on the relative assets of each Related
Public Fund computed on a daily basis. These fees and expenses for the year&nbsp;ending December 31, 2018&nbsp;are estimated to
be a total of $14,500&nbsp;for&nbsp;USL and, in the aggregate for USL and the Related Public Funds, $536,200.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Licensing&nbsp;Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As discussed in Note 4 below, USL entered into
a licensing agreement with the NYMEX on April 10, 2006, as amended on October 20, 2011. Pursuant to the agreement, USL and the
Related Public Funds, other than BNO, USCI, CPER, USAG, USOU and USOD, pay a licensing fee that is equal to 0.015% on all net assets.
During the six months ended June 30, 2018 and 2017, USL incurred $6,347 and $8,312, respectively, under this arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Investor Tax Reporting Cost</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fees and expenses associated with USL's
audit expenses and tax accounting and reporting requirements are paid by USL. These costs are estimated to be $150,000 for the
year ending December 31, 2018. Tax reporting costs fluctuate between years due to the number of shareholders during any given year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Other Expenses and Fees&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the fees described above, USL
pays all brokerage fees and other expenses in connection with the operation of USL, excluding costs and expenses paid by USCF as
outlined in <I>Note&nbsp;4 &ndash; Contracts and Agreements</I> below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE&nbsp;4 &mdash; CONTRACTS AND AGREEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Marketing Agent Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL is party to a marketing agent agreement,
dated as of November 13, 2007, as amended from time to time, with the Marketing Agent and USCF, whereby the Marketing Agent provides
certain marketing services for USL as outlined in the agreement. The fee of the Marketing Agent, which is borne by USCF, is equal
to 0.06% on USL's assets up to $3 billion and 0.04% on USL's assets in excess of $3 billion. In no event may the aggregate compensation
paid to the Marketing Agent and any affiliate of&nbsp;USCF for distribution-related services exceed 10% of the gross proceeds of&nbsp;USL's
offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The above fee does not include website construction
and development, which are also&nbsp;borne by USCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Brown Brothers Harriman &amp; Co. Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL is&nbsp;also party to a&nbsp;custodian
agreement, dated October 5, 2007, as amended from time to time, with Brown Brothers Harriman &amp; Co. (&ldquo;BBH&amp;Co.&rdquo;)
and USCF, whereby BBH&amp;Co. holds investments on behalf of USL.&nbsp;USCF pays the fees of the custodian, which are determined
by the parties from time to time. In addition,&nbsp;USL is party to an administrative agency agreement, dated October 5, 2007,
as amended from time to time, with USCF and BBH&amp;Co., whereby BBH&amp;Co. acts as the administrative agent, transfer agent and
registrar for USL.&nbsp;USCF also pays the fees of BBH&amp;Co. for its services under such agreement and such fees are determined
by the parties from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Currently,&nbsp;USCF pays BBH&amp;Co. for its
services, in the foregoing capacities, a minimum amount of $75,000 annually for its custody, fund accounting and fund administration
services rendered to USL and each of the Related Public Funds, as well as a $20,000 annual fee for its transfer agency services.
In addition,&nbsp;USCF pays BBH&amp;Co. an asset-based charge of (a) 0.06% for the first $500 million of the Related Public Funds&rsquo;
combined net assets, (b) 0.0465% for the Related Public Funds&rsquo; combined net assets greater than $500 million but less than
$1 billion, and (c) 0.035% once the Related Public Funds&rsquo; combined net assets exceed $1 billion. The annual minimum amount
will not apply if the asset-based charge for all accounts in the aggregate exceeds $75,000.&nbsp;USCF also pays BBH&amp;Co. transaction
fees ranging from $7 to $15 per transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Brokerage and Futures Commission Merchant
Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 8, 2013, USL entered into a brokerage
agreement with RBC Capital Markets, LLC (&ldquo;RBC Capital&rdquo; or &ldquo;RBC&rdquo;) to serve as USL's FCM effective October
10, 2013.&nbsp;The agreement with RBC requires it to provide services to USL in connection with the purchase and sale of&nbsp;Oil
Futures Contracts and Other Oil-Related Investments that may be purchased and sold by or through&nbsp;RBC Capital for USL's account.
In accordance with the agreement,&nbsp;RBC Capital charges&nbsp;USL commissions of approximately $7 to $8 per round-turn trade,
including applicable exchange, clearing&nbsp;and NFA fees for&nbsp;Oil Futures Contracts and options on Oil Futures Contracts.
Such fees include those incurred when purchasing&nbsp;Oil Futures Contracts and options on&nbsp;Oil Futures Contracts when USL
issues shares as a result of a Creation Basket, as well as fees incurred when selling&nbsp;Oil Futures Contracts and options on&nbsp;Oil
Futures Contracts when USL redeems shares as a result of a Redemption Basket. Such fees are also incurred when&nbsp;Oil Futures
Contracts and options on&nbsp;Oil Futures Contracts are purchased or redeemed for the purpose of rebalancing the portfolio. 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 (&ldquo;Treasuries&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six months<BR>
 ended <BR> June 30, 2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six months<BR>
 ended <BR> June 30, 2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; text-align: left">Total commissions accrued to brokers</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">3,219</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">8,841</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total commissions as annualized percentage of average total net assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,439</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,074</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Percentage of commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.77</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80.01</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">780</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,767</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Percentage of commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.99</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The decrease in total commissions accrued to
brokers for the&nbsp;six months ended June 30, 2018, compared to the&nbsp;six months ended June 30, 2017, was due primarily to
a lower&nbsp;number of&nbsp;crude oil futures contracts being held and traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NYMEX&nbsp;Licensing&nbsp;Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL and the NYMEX entered into a licensing
agreement on April 10, 2006, as amended on October 20, 2011, whereby USL was granted a non-exclusive license to use certain of
the NYMEX&rsquo;s settlement prices and service marks. Under the licensing agreement, USL and the Related Public Funds, other than
BNO, USCI, CPER, USAG, USOU and USOD, pay the NYMEX an asset-based fee for the license, the terms of which are described in Note
3. USL expressly disclaims any association with the NYMEX or endorsement of USL by the NYMEX and acknowledges that &ldquo;NYMEX&rdquo;
and &ldquo;New York Mercantile Exchange&rdquo; are registered trademarks of the NYMEX.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE&nbsp;5 &mdash; FINANCIAL INSTRUMENTS,
OFF-BALANCE SHEET RISKS AND CONTINGENCIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&nbsp;may engage in the trading of futures
contracts, options on futures contracts, cleared swaps and OTC swaps (collectively, &ldquo;derivatives&rdquo;). USL is exposed
to both market risk, which is the risk arising from changes in the market value of the contracts, and credit risk, which is the
risk of failure by another party to perform according to the terms of a contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL may enter into futures contracts, options
on futures contracts and cleared swaps to gain exposure to changes in the value of an underlying commodity. A futures contract
obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of a commodity
at a specified time and place. Some futures contracts may call for physical delivery of the asset, while others are settled in
cash. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the
underlying commodity or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange
before the designated date of delivery. Cleared swaps are agreements that are eligible to be cleared by a clearinghouse, e.g.,
ICE Clear Europe, and provide the efficiencies and benefits that centralized clearing on an exchange offers to traders of futures
contracts, including credit risk intermediation and the ability to offset positions initiated with different counterparties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purchase and sale of futures contracts,
options on futures contracts and cleared swaps require margin deposits with an FCM. Additional deposits may be necessary for any
loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM&rsquo;s
proprietary activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Futures contracts, options on futures contracts
and cleared swaps involve, to varying degrees, elements of market risk (specifically commodity price risk) and exposure to loss
in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure&nbsp;USL has
in the particular classes of instruments. Additional risks associated with the use of futures contracts are an imperfect correlation
between movements in the price of the futures contracts and the market value of the underlying securities and the possibility of
an illiquid market for a futures contract. Buying and selling options on futures contracts exposes investors to the risks of purchasing
or selling futures contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All of the futures contracts held by USL through
June 30, 2018 were exchange-traded. The risks associated with exchange-traded contracts are generally perceived to be less than
those associated with OTC swaps since, in OTC swaps, a party must rely solely on the credit of its respective individual counterparties.
However, in the future, if USL were to enter into non-exchange traded contracts, it would be subject to the credit risk associated
with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net
unrealized gain, if any, on the transaction. USL has credit risk under its futures contracts since the sole counterparty to all
domestic and foreign futures contracts is the clearinghouse for the exchange on which the relevant contracts are traded. In addition,
USL bears the risk of financial failure by the clearing broker.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's&nbsp;cash and other property, such as
Treasuries, deposited with an FCM are considered commingled with all other customer funds, subject to the FCM&rsquo;s segregation
requirements. In the event of an FCM&rsquo;s insolvency, recovery may be limited to a pro rata share of segregated funds available.
It is possible that the recovered amount could be less than the total of cash and other property deposited. The insolvency of an
FCM could result in the complete loss of&nbsp;USL's assets posted with that FCM; however, the majority of USL's assets are held
in investments in Treasuries,&nbsp;cash and/or cash equivalents with&nbsp;USL's custodian and would not be impacted by the insolvency
of an FCM. The failure or insolvency of&nbsp;USL's custodian, however, could result in a substantial loss of&nbsp;USL's assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF invests a portion of&nbsp;USL's cash in
money market funds that seek to maintain a stable per share NAV. USL is&nbsp;exposed to any risk of loss associated with an investment
in such money market funds. As of June 30, 2018 and December 31, 2017, USL held investments in money market funds in the amounts
of $19,600,000 and $19,000,000, respectively.&nbsp;USL&nbsp;also&nbsp;holds cash deposits with its custodian. Pursuant to a written
agreement with BBH&amp;Co., uninvested overnight cash balances are swept to offshore branches of U.S. regulated and domiciled banks
located in Toronto, Canada; London, United Kingdom; Grand Cayman, Cayman Islands; and Nassau, Bahamas; which are subject to U.S.
regulation and regulatory oversight. As of June 30, 2018 and December 31, 2017, USL held cash deposits and investments in Treasuries
in the amounts of $64,409,285 and $69,230,084, respectively, with the custodian and FCM. Some or all of these amounts may be subject
to loss should&nbsp;USL's custodian and/or FCM cease operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For derivatives, risks arise from changes in
the market value of the contracts. Theoretically, USL is exposed to market risk equal to the value of&nbsp;futures contracts purchased
and unlimited liability on such contracts sold short. As both a buyer and a seller of options, USL pays or receives a premium at
the outset and then&nbsp;bears the risk of unfavorable changes in the price of the contract underlying the option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's&nbsp;policy is to continuously monitor
its exposure to market and counterparty risk through the use of a variety of financial, position and credit exposure reporting
controls and procedures. In addition, USL has a policy of requiring review of the credit standing of each broker or counterparty
with which&nbsp;it conducts business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial instruments held by USL are reported
in its condensed statements of financial condition at market or fair value, or at carrying amounts that approximate fair value,
because of their highly liquid nature and short-term maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 6 &mdash; FINANCIAL HIGHLIGHTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table presents per share performance
data and other supplemental financial data for the six months ended June 30, 2018 and 2017 for the shareholders. This information
has been derived from information presented in the condensed financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the six months ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>June 30, 2018</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the six months ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>June 30, 2017</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-decoration: underline">Per Share Operating Performance:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%">Net asset value, beginning of period</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">21.05</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">20.39</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.52</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.09</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.08</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 0.25in">Net increase (decrease) in net asset value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4.32</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3.60</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Net asset value, end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25.37</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16.79</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Return</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">20.52</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(17.66</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Ratios to Average Net Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19.19</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(18.40</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Management fees*</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.60</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.60</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Expenses excluding management fees*</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.21</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.27</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">18.78</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(18.83</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 2%">*</TD>
    <TD STYLE="width: 98%">Annualized.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Total returns are calculated based on the change
in value during the period. An individual shareholder&rsquo;s total return and ratio may vary from the above total returns and
ratios based on the timing of contributions to and withdrawals from USL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE&nbsp;7 &mdash; FAIR VALUE OF FINANCIAL
INSTRUMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL values its investments in accordance with
Accounting Standards Codification 820 &ndash; Fair Value Measurements and Disclosures (&ldquo;ASC 820&rdquo;). ASC 820 defines
fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures
about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of
fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes
a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from
sources independent of&nbsp;USL (observable inputs) and (2)&nbsp;USL's own assumptions about market participant assumptions developed
based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820
hierarchy are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level I &ndash; Quoted prices (unadjusted)
in active markets for <I>identical </I>assets or liabilities that the reporting entity has the ability to access at the measurement
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level II &ndash; Inputs other than quoted prices
included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include
the following: quoted prices for <I>similar </I>assets or liabilities in active markets, quoted prices for identical or similar
assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated
inputs).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level III &ndash; Unobservable pricing input
at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that
observable inputs are not available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In some instances, the inputs used to measure
fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the
fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair
value measurement in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table summarizes the valuation of USL&rsquo;s securities
at June 30, 2018 using the fair value hierarchy:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">At June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level I</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level II</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level III</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left">Short-Term Investments</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">83,283,254</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">83,283,254</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Exchange-Traded Futures Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0.25in">United States Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,534,641</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,534,641</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">During the six months ended June 30, 2018, there were no transfers between Level I and Level II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table summarizes the valuation of USL&rsquo;s securities
at December 31, 2017 using the fair value hierarchy:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">At December 31, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level I</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level II</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level III</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left">Short-Term Investments</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">85,783,036</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">85,783,036</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Exchange-Traded Futures Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0.25in">United States Contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,072,567</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,072,567</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%">During the year ended December 31, 2017, there were no transfers between Level I and Level II.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 1, 2009, USL adopted the
provisions of Accounting Standards Codification 815 &ndash; Derivatives and Hedging, which require presentation of qualitative
disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts and gains
and losses on derivatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Fair Value of Derivative Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Derivatives not <BR> Accounted for<BR> as Hedging <BR> Instruments</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Condensed<BR> Statements of <BR> Financial<BR> Condition Location</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value<BR> At June 30, <BR> 2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value<BR> At December 31, <BR> 2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; font-weight: bold; text-align: left">Futures - Commodity Contracts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%; text-align: center">Assets</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">16,534,641</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">11,072,567</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%"><B>The Effect of Derivative Instruments on the Condensed Statements of Operations</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six months ended<BR> June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six months ended<BR> June 30, 2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Derivatives not <BR> Accounted for<BR> as Hedging <BR> Instruments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Location of<BR> Gain (Loss)<BR> on Derivatives<BR> Recognized in<BR> Income</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Realized<BR> Gain (Loss)<BR> on Derivatives<BR> Recognized in<BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Change in<BR> Unrealized<BR> Gain (Loss) on<BR> Derivatives<BR> Recognized in<BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Realized<BR> Gain (Loss)<BR> on Derivatives<BR> Recognized in<BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Change in<BR> Unrealized<BR> Gain (Loss) on<BR> Derivatives<BR> Recognized in<BR> Income</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; font-weight: bold; text-align: left; vertical-align: top">Futures - Commodity Contracts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%; text-align: left">Realized gain (loss) on<BR> closed positions</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10,264,256</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,619,094</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Change in unrealized<BR> gain (loss) on open<BR> positions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,462,074</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(27,523,684</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 8 &mdash; SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL has performed an evaluation of subsequent
events through the date the condensed financial statements were issued. This evaluation did not result in any subsequent events
that necessitated disclosures and/or adjustments other than as disclosed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 7, 2018, the Board of Directors
of USCF authorized and approved the closing and liquidation each of USAG, DNO and UHN together with a plan of liquidation for each
of USAG, DNO and UHN. Each of the United States Commodity Index Funds Trust, of which USAG is a series, DNO and UHN filed a current
report on Form 8-K dated August 8, 2018 with the SEC that included, as an exhibit, the press release, the applicable plan of liquidation,
and, in the case of DNO and UHN, a copy of the notice regarding the liquidation sent to shareholders. In addition, each of USAG,
DNO and UHN filed a prospectus supplement with the SEC dated August 8, 2018. &nbsp;Each of the filings are also available on USCF&rsquo;s
website at www.uscfinvestments.com.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_003"></A>Item 2. Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following discussion should be read in
conjunction with the condensed financial statements and the notes thereto of the United States 12 Month Oil Fund, LP (&ldquo;USL&rdquo;)
included elsewhere in this quarterly report on Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Forward-Looking Information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This quarterly report on Form 10-Q, including
this &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations,&rdquo; contains forward-looking
statements regarding the plans and objectives of management for future operations. This information may involve known and unknown
risks, uncertainties and other factors that may cause USL&rsquo;s actual results, performance or achievements to be materially
different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking
statements, which involve assumptions and describe USL&rsquo;s future plans, strategies and expectations, are generally identifiable
by use of the words &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend&rdquo; or &ldquo;project,&rdquo; the negative of these words, other
variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect,
and USL cannot assure investors that the projections included in these forward-looking statements will come to pass. USL&rsquo;s
actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various
factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL has based the forward-looking statements
included in this quarterly report on Form 10-Q on information available to it on the date of this quarterly report on Form 10-Q,
and USL assumes no obligation to update any such forward-looking statements. Although USL undertakes no obligation to revise or
update any forward-looking statements, whether as a result of new information, future events or otherwise, investors are advised
to consult any additional disclosures that USL may make directly to them or through reports that USL in the future files with the
U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;), including annual reports on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Introduction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL, a Delaware limited partnership, is a commodity
pool that issues shares that may be purchased and sold on the NYSE Arca, Inc. (the &ldquo;NYSE Arca&rdquo;). The investment objective
of USL is for the daily changes in percentage terms of its shares&rsquo; per share net asset value (&ldquo;NAV&rdquo;) to reflect
the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by
the daily changes in the average of the prices of 12 futures contracts for light, sweet crude oil traded on the New York Mercantile
Exchange (the &ldquo;NYMEX&rdquo;) that is the near month contract to expire and the contracts for the following 11 months for
a total of 12 consecutive months&rsquo; contracts, except when the near month contract is within two weeks of expiration, in which
case it will be measured by the futures contract that is the next month contract to expire and the contracts for the following
11 consecutive months, (the &ldquo;Benchmark Oil Futures Contracts&rdquo;), plus interest earned on USL&rsquo;s collateral holdings,
less USL&rsquo;s expenses. &ldquo;Near month contract&rdquo; means the next contract traded on the NYMEX due to expire. &ldquo;Next
month contract&rdquo; means the first contract traded on the NYMEX due to expire after the near month contract. When calculating
the daily movement of the average price of the 12 contracts, each contract month is equally weighted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&rsquo;s investment objective is <I>not
</I>for its NAV or market price of shares to equal, in dollar terms, the spot price of light, sweet crude oil or any particular
futures contract based on light, sweet crude oil, <I>nor</I> is USL&rsquo;s investment objective for the percentage change in its
NAV to reflect the percentage change of the price of any particular futures contract as measured over a time period <I>greater
than one day</I>. The general partner of USL, United States Commodity Funds LLC (&ldquo;USCF&rdquo;), believes that it is not practical
to manage the portfolio to achieve such an investment goal when investing in Oil Futures Contracts (as defined below) and Other
Oil-Related Investments (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL invests primarily in futures contracts
for light, sweet crude oil, other types of crude oil, heating oil, gasoline, natural gas and other petroleum-based fuels that are
traded on the NYMEX, ICE Futures or other U.S. and foreign exchanges (collectively, &ldquo;Oil Futures Contracts&rdquo;) and to
a lesser extent, in order to comply with regulatory requirements or in view of market conditions, other oil-related investments
such as cash-settled options on Oil Futures Contracts, forward contracts for oil, cleared swap contracts and over-the-counter (&ldquo;OTC&rdquo;)
swaps that are based on the price of oil, other petroleum-based fuels, Oil Futures Contracts and indices based on the foregoing
(collectively, &ldquo;Other Oil-Related Investments&rdquo;). For convenience and unless otherwise specified, Oil Futures Contracts
and Other Oil-Related Investments collectively are referred to as &ldquo;Oil Interests&rdquo; in this quarterly report on Form
10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF believes that market arbitrage opportunities
will cause daily changes in USL&rsquo;s share price on the NYSE Arca on a percentage basis to closely track daily changes in USL&rsquo;s
per share NAV on a percentage basis. USCF further believes that daily changes in prices of the Benchmark Oil Futures Contracts
have historically closely tracked the daily changes in spot prices of light, sweet crude oil. USCF believes that the net effect
of these relationships will be that the daily changes in the price of USL&rsquo;s shares on the NYSE Arca on a percentage basis
will closely track, the daily changes in the spot price of a barrel of light, sweet crude oil on a percentage basis, plus interest
earned on USL&rsquo;s collateral holdings, less USL&rsquo;s expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL seeks to achieve its investment objective
by investing so that the average daily percentage change in USL&rsquo;s NAV for any period of 30 successive valuation days will
be within plus/minus ten percent (10%) of the average daily percentage change in the price of the Benchmark Oil Futures Contract
over the same period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Regulatory Disclosure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Accountability Levels, Position Limits and
Price Fluctuation Limits</I>. Designated contract markets (&ldquo;DCMs&rdquo;), such as the NYMEX and ICE Futures, have established
accountability levels and position limits on the maximum net long or net short futures contracts in commodity interests that any
person or group of persons under common trading control (other than as a hedge, which an investment by USL is not) may hold, own
or control. These levels and position limits apply to the futures contracts that USL invests in to meet its investment objective.
In addition to accountability levels and position limits, the NYMEX and ICE Futures also set daily price fluctuation limits on
futures contracts. The daily price fluctuation limit establishes the maximum amount that the price of a futures contract may vary
either up or down from the previous day&rsquo;s settlement price. Once the daily price fluctuation limit has been reached in a
particular futures contract, no trades may be made at a price beyond that limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accountability levels for the Benchmark
Oil Futures Contracts and other Oil Futures Contracts traded on U.S.-based futures exchanges, such as the NYMEX, are not a fixed
ceiling, but rather a threshold above which the NYMEX may exercise greater scrutiny and control over an investor&rsquo;s positions.
The current accountability level for investments for any one month in the Benchmark Oil Futures Contracts is 10,000 contracts.
In addition, the NYMEX imposes an accountability level for all months of 20,000 net futures contracts for light, sweet crude oil.
In addition, ICE Futures maintains accountability levels, position limits and monitoring authority for its futures contracts for
light, sweet crude oil. If USL and the Related Public Funds exceed these accountability levels for investments in the futures contracts
for light, sweet crude oil, the NYMEX and ICE Futures will monitor such exposure and may ask for further information on their activities
including the total size of all positions, investment and trading strategy, and the extent of liquidity resources of USL and the
Related Public Funds. If deemed necessary by the NYMEX and/or ICE Futures, USL could be ordered to reduce its net futures contracts
back to the accountability level. As of June 30, 2018, USL held 1,252 futures contracts for light, sweet crude oil traded on the
NYMEX and did not hold any Oil Futures Contracts traded on the ICE Futures. For the six months ended June 30, 2018 USL did not
exceed the accountability levels imposed by the NYMEX or ICE Futures, however, the aggregated total of certain of the Related Public
Funds did exceed the accountability levels. No action was taken by NYMEX and USL did not reduce the number of Oil Futures Contracts
held as a result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Position limits differ from accountability
levels in that they represent fixed limits on the maximum number of futures contracts that any person may hold and cannot allow
such limits to be exceeded without express CFTC authority to do so. In addition to accountability levels and position limits that
may apply at any time, the NYMEX and ICE Futures impose position limits on contracts held in the last few days of trading in the
near month contract to expire. It is unlikely that USL will run up against such position limits because USL&rsquo;s investment
strategy is to close out its positions and &ldquo;roll&rdquo; from the near month contract to expire and the eleven following months
to the next month contract to expire and the eleven following months during a one day each month. For the six months ended June
30, 2018, USL did not exceed position limits imposed by the NYMEX and ICE Futures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The regulation of commodity interest trading
in the United States and other countries is an evolving area of the law. The various statements made in this summary are subject
to modification by legislative action and changes in the rules and regulations of the SEC, Financial Industry Regulatory Authority
(&ldquo;FINRA&rdquo;), CFTC, NFA, the futures exchanges, clearing organizations and other regulatory bodies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Futures Contracts and Position Limits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The CFTC is generally prohibited by statute
from regulating trading on non-U.S. futures exchanges and markets. The CFTC, however, has adopted regulations relating to the marketing
of non-U.S. futures contracts in the United States. These regulations permit certain contracts on non-U.S. exchanges to be offered
and sold in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The CFTC has proposed to adopt limits on speculative
positions in 25 physical commodity futures and option contracts as well as swaps that are economically equivalent to such contracts
in the agriculture, energy and metals markets (the &ldquo;Position Limit Rules&rdquo;). The Position Limit Rules would, among other
things: identify which contracts are subject to speculative position limits; set thresholds that restrict the size of speculative
positions that a person may hold in the spot month, other individual months, and all months combined; create an exemption for positions
that constitute bona fide hedging transactions; impose responsibilities on DCMs and swap execution facilities (&ldquo;SEFs&rdquo;)
to establish position limits or, in some cases, position accountability rules; and apply to both futures and swaps across four
relevant venues: OTC, DCMs, SEFs as well as certain non-U.S. located platforms. The CFTC&rsquo;s first attempt at finalizing the
Position Limit Rules, in 2011, was successfully challenged by market participants in 2012 and, since then, the CFTC has re-proposed
them and solicited comments from market participants multiple times. At this time, it is unclear how the Position Limit Rules may
affect USL, but the effect may be substantial and adverse. By way of example, the Position Limit Rules may negatively impact the
ability of&nbsp;USL to meet its investment objectives through limits that may inhibit USCF&rsquo;s ability to sell additional Creation
Baskets of USL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Until such time as the Position Limit Rules
are adopted, the regulatory architecture in effect prior to the adoption of the Position Limit Rules will govern transactions in
commodities and related derivatives. Under that system, the CFTC enforces federal limits on speculation in nine&nbsp;agricultural
products (e.g., corn, wheat and soy), while futures exchanges establish and enforce position limits and accountability levels for
other agricultural products&nbsp;and certain energy products (e.g., oil and natural gas). As a result,&nbsp;USL may be limited
with respect to the size of its investments in any commodities subject to these limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under existing and recently adopted CFTC regulations,
for the purpose of position limits, a market participant is generally required, subject to certain narrow exceptions, to aggregate
all positions for which that participant controls the trading decisions with all positions for which that participant has a 10
percent or greater ownership interest in an account or position, as well as the positions of two or more persons acting pursuant
to an express or implied agreement or understanding with that participant (the &ldquo;Aggregation Rules&rdquo;). The Aggregation
Rules will also apply with respect to the Position Limit Rules if and when such Position Limit Rules are adopted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>OTC Swaps</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2015, the Office of the Comptroller
of the Currency, the Board of Governors of the Federal Reserve System, the FDIC, the Farm Credit Administration, and the Federal
Housing Finance Agency (each an &ldquo;Agency&rdquo; and, collectively, the &ldquo;Agencies&rdquo;) jointly adopted final rules
to establish minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap
dealers, and major security-based swap participants (&ldquo;Swap Entities&rdquo;) that are subject to the jurisdiction of one of
the Agencies (such entities, &ldquo;Covered Swap Entities&rdquo;, and the joint final rules, the &ldquo;Final Margin Rules&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Final Margin Rules will subject non-cleared
swaps and non-cleared security-based swaps between Covered Swap Entities and Swap Entities, and between Covered Swap Entities and
financial end users that have material swaps exposure (i.e., an average daily aggregate notional of $8 billion or more in non-cleared
swaps calculated in accordance with the Final Margin Rules), to a mandatory two-way minimum initial margin requirement. The minimum
amount of the initial margin required to be posted or collected would be either the amount calculated by the Covered Swap Entity
using a standardized schedule set forth as an appendix to the Final Margin Rules, which provides the gross initial margin (as a
percentage of total notional exposure) for certain asset classes, or an internal margin model of the Covered Swap Entity conforming
to the requirements of the Final Margin Rules that is approved by the Agency having jurisdiction over the particular Covered Swap
Entity. The Final Margin Rules specify the types of collateral that may be posted or collected as initial margin for non-cleared
swaps and non-cleared security-based swaps with financial end users (generally cash, certain government, government-sponsored enterprise
securities, certain liquid debt, certain equity securities, certain eligible publicly traded debt, and gold); and sets forth haircuts
for certain collateral asset classes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Final Margin Rules require minimum variation
margin to be exchanged daily for non-cleared swaps and non-cleared security-based swaps between Covered Swap Entities and Swap
Entities and between Covered Swap Entities and all financial end-users (without regard to the swaps exposure of the particular
financial end-user). The minimum variation margin amount is the daily mark-to-market change in the value of the swap to the Covered
Swap Entity, taking into account variation margin previously posted or collected. For non-cleared swaps and security-based swaps
between Covered Swap Entities and financial end-users, variation margin may be posted or collected in cash or non-cash collateral
that is considered eligible for initial margin purposes. Variation margin is not subject to segregation with an independent, third-party
custodian, and may, if permitted by contract, be rehypothecated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The initial margin requirements of the Final
Margin Rules are being phased in over time, and the variation margin requirements of the Final Margin Rules are currently in effect.
The Fund&nbsp;is not a Covered Swap Entity under the Final Margin Rules but it is a financial end-user. Accordingly,&nbsp;the Fund
is currently subject to the variation margin requirements of the Final Margin Rules. However,&nbsp;the Fund does not have material
swaps exposure and, accordingly, the Fund will not be subject to the initial margin requirements of the Final Margin Rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Dodd-Frank Wall Street Reform and Consumer
Protection Act&nbsp;(the &ldquo;Dodd-Frank Act&rdquo;) required the CFTC and the SEC to adopt their own margin rules to apply to
a limited number of registered swap dealers, security-based swap dealers, major swap participants, and major security-based swap
participants that are not subject to the jurisdiction of one of the Agencies. On December 16, 2015 the CFTC finalized its margin
rules, which are substantially the same as the Final Margin Rules and have the same implementation timeline. The SEC has yet to
finalize its margin rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Mandatory Trading and Clearing of Swaps</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CFTC regulations require that certain swap
transactions be executed on organized exchanges or &ldquo;swap execution facilities&rdquo; and cleared through regulated clearing
organizations (&ldquo;derivative clearing organizations&rdquo; (&ldquo;DCOs&rdquo;)), if the CFTC mandates the central clearing
of a particular class of swap and such swap is &ldquo;made available to trade&rdquo; on a swap execution facility. Currently, swap
dealers, major swap participants, commodity pools, certain private funds and entities predominantly engaged in activities that
are financial in nature are required to execute on a swap execution facility, and clear, certain interest rate swaps and index-based
credit default swaps. As a result, if&nbsp;USL enters into an interest rate or index-based credit default swaps that is subject
to these requirements, such swap will be required to be executed on a swap execution facility and centrally cleared. Mandatory
clearing and &ldquo;made available to trade&rdquo; determinations with respect to additional types of swaps are expected in the
future, and, when finalized, could require&nbsp;USL to electronically execute and centrally clear certain OTC instruments presently
entered into and settled on a bi-lateral basis. If a swap is required to be cleared, initial and variation margin requirements
are set by the relevant clearing organization, subject to certain regulatory requirements and guidelines. Additional margin may
be required and held by USL's FCM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Other Requirements for Swaps</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the margin requirements described
above, swaps that are not required to be cleared and executed on a SEF but that are executed bilaterally are also subject to various
requirements pursuant to CFTC regulations, including, among other things, reporting and recordkeeping requirements and, depending
on the status of the counterparties, trading documentation requirements and dispute resolution requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Derivatives Regulations in Non-U.S. Jurisdictions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to U.S. laws and regulations,&nbsp;USL
may be subject to non-U.S. derivatives laws and regulations if it engages in futures and/or swaps transactions with non-U.S. persons.
For example,&nbsp;USL may be impacted by European laws and regulations to the extent that it engages in futures transactions on
European exchanges or derivatives transactions with European entities. Other jurisdictions impose requirements applicable to futures
and derivatives that are similar to those imposed by the U.S., including position limits, margin, clearing and trade execution
requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Money Market Reform</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The SEC adopted amendments to Rule 2a-7 under
the Investment Company Act of 1940, as amended (&quot;1940 Act&quot;) which became effective in 2016, to reform money market funds
(&ldquo;MMFs&rdquo;). While the new rule applies only to MMFs, it may indirectly affect institutional investors such as USL. A
portion of&nbsp;USL's assets that are not used for margin or collateral in the Futures Contracts currently are invested in government
MMFs. USL does not hold any non-government MMFs and, particularly in light of recent changes to the rule governing the operation
of MMFs, does not anticipate investing in any non-government MMFs. However, if USL invests in other types of MMFs besides government
MMFs in the future, USL could be negatively impacted by investing in an MMF that does not maintain a stable $1.00&nbsp;NAV or that
has the potential to impose redemption fees and gates (temporary suspension of redemptions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Price Movements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Crude oil&nbsp;futures prices were volatile
during the&nbsp;six months ended&nbsp;June 30, 2018 and exhibited moderate daily swings along with an upward trend during the period.
The average price of the Benchmark Oil Futures Contracts started the period at $59.40 per barrel.&nbsp;The high of the period was
on May 22, 2018 when the average price reached $69.70 per barrel. The average low price of the&nbsp;period was on&nbsp;February
9, 2018&nbsp;when the average price dropped to $56.84 per barrel. The&nbsp;period ended with the average price of the Benchmark
Oil Futures Contracts&nbsp;at $68.92 per barrel,&nbsp;an increase of approximately 16.03% over the period. USL&rsquo;s per share
NAV began the period&nbsp;at $21.05 and ended the&nbsp;period at $25.37 on June 30, 2018,&nbsp;an increase of approximately 20.52%
over the period.&nbsp;USL&rsquo;s per share NAV reached its high for the&nbsp;period on&nbsp;May 22, 2018&nbsp;at $25.54 and reached
its low for the&nbsp;period on February 9, 2018&nbsp;at $20.39. The&nbsp;average Benchmark Oil Futures Contracts prices listed
above began with the February 2018 to January 2019 contracts and ended with the August 2018 to July 2019&nbsp;contracts. The&nbsp;increase
of approximately 16.03% on the&nbsp;average price of the Benchmark Oil Futures Contracts listed above is a hypothetical return
only and could not actually be achieved by an investor holding Oil Futures Contracts. An investment in&nbsp;Oil Futures Contracts
would need to be rolled forward during the time period described in order to simulate such a result. Furthermore, the change in
the nominal price of these differing Oil Futures Contracts, measured from the start of the&nbsp;period to the end of the period,
does not represent the actual benchmark results that USL seeks to track, which are more fully described below in the section titled
&ldquo;<I>Tracking USL's Benchmark</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2018,
the crude oil futures market was in a state of backwardation, meaning that the price of the near month crude Oil Futures Contract
was higher than the price of the next month crude Oil Futures Contract, or contracts further away from expiration. On days when
the market is in backwardation, the price of the near month crude Oil Futures Contract is typically higher than the price of the
next month crude Oil Futures Contract or contracts further away from expiration. For a discussion of the impact of backwardation
and contango on total returns, see &ldquo;Term Structure of Crude Oil Prices and the Impact on Total Returns&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Valuation of Oil Futures Contracts and the
Computation of the Per Share NAV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The per share NAV of USL&rsquo;s shares is
calculated once each NYSE Arca trading day. The per share NAV for a particular trading day is released after 4:00 p.m. New York
time. Trading during the core trading session on the NYSE Arca typically closes at 4:00 p.m. New York time. USL&rsquo;s administrator
uses the NYMEX closing price (determined at the earlier of the close of the NYMEX or 2:30 p.m. New York time) for the contracts
held on the NYMEX, but calculates or determines the value of all other USL investments, including ICE Futures contracts or other
futures contracts, as of the earlier of the close of the NYSE Arca or 4:00 p.m. New York time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Results of Operations and the Crude Oil
Market</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Results of Operations.</I> On December 6,
2007, USL listed its shares on the American Stock Exchange (the &ldquo;AMEX&rdquo;) under the ticker symbol &ldquo;USL.&rdquo;
On that day, USL established its initial offering price at $50.00 per share and issued 300,000 shares to its initial Authorized
Participant in exchange for $15,000,000 in cash. As a result of the acquisition of the AMEX by NYSE Euronext, USL&rsquo;s shares
ceased trading on the AMEX and commenced trading on the NYSE Arca on November 25, 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since its initial offering of 11,000,000 shares,
USL has registered one subsequent offering of its shares: 100,000,000 shares which were registered with the SEC on March 31, 2009.
Shares offered by USL in the subsequent offerings were sold by it for cash at the shares&rsquo; per share NAV as described in the
applicable prospectus. As of June 30, 2018, USL had issued 23,200,000 shares, 3,400,000 of which were outstanding. As of June 30,
2018, there were 87,800,000 shares registered but not yet issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">More shares may have been issued by USL than
are outstanding due to the redemption of shares. Unlike funds that are registered under the Investment Company Act of 1940, as
amended, shares that have been redeemed by USL cannot be resold by USL. As a result, USL contemplates that additional offerings
of its shares will be registered with the SEC in the future in anticipation of additional issuances and redemptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2018, USL had the following
Authorized Participants: Citadel Securities LLC, Citigroup Global Markets Inc., Goldman Sachs &amp; Company, JP Morgan Securities
Inc., Merrill Lynch Professional Clearing Corp., Morgan Stanley &amp; Company Inc., Nomura Securities International Inc., RBC Capital
Markets LLC, SG Americas Securities LLC, and Virtu Financial BD LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>For the Six Months Ended June 30, 2018 Compared
to the Six Months Ended June 30, 2017</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six <BR> months ended <BR> June 30, 2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the six <BR> months ended <BR> June 30, 2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Average daily total net assets</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">85,328,246</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">111,747,292</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Dividend and interest income earned on Treasuries, cash and/or cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">642,491</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">339,400</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Annualized yield based on average daily total net assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.52</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.61</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Management fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">253,881</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">332,486</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total fees and other expenses excluding management fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">90,795</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">149,541</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total commissions accrued to brokers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,219</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,841</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total commissions as annualized percentage of average total net assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,439</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,074</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Percentage of commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.77</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80.01</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">780</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,767</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Percentage of commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.99</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Portfolio Expenses. </I>USL&rsquo;s expenses
consist of investment management fees, brokerage fees and commissions, certain offering costs, licensing fees, registration fees,
the fees and expenses of the independent directors of USCF and expenses relating to tax accounting and reporting requirements.
The management fee that&nbsp;USL pays to USCF is calculated as a percentage of the total net assets of USL. The fee is accrued
daily and paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Average interest rates earned on short-term
investments held by USL, including cash, cash equivalents and Treasuries, were higher during the&nbsp;six months ended June 30,
2018, compared to the&nbsp;six months ended June 30, 2017. As a result, the amount of income earned by&nbsp;USL as a percentage
of average daily total net assets was higher&nbsp;during the&nbsp;six months ended June 30, 2018, compared to the&nbsp;six months
ended June 30, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The&nbsp;decrease in total fees and other expenses
excluding management fees for the&nbsp;six months ended June 30, 2018, compared to the&nbsp;six months ended&nbsp;June 30, 2017
was due primarily to USL&rsquo;s smaller&nbsp;size as measured by total net assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The decrease in total commissions accrued to
brokers for the&nbsp;six months ended June 30, 2018, compared to the&nbsp;six months ended June 30, 2017, was due primarily to
a lower&nbsp;number of&nbsp;Oil Futures Contracts being held and traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>For the Three Months Ended June 30, 2018
Compared to the Three Months Ended June 30, 2017</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three <BR> months ended <BR> June 30, 2018</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three <BR> months ended <BR> June 30, 2017</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Average daily total net assets</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">84,621,388</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">106,571,454</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Dividend and interest income earned on Treasuries, cash and/or cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">347,526</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">187,897</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Annualized yield based on average daily total net assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.65</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.71</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Management fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">126,585</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">159,419</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total fees and other expenses excluding management fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">45,712</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">65,962</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total commissions accrued to brokers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,645</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,709</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Total commissions as annualized percentage of average total net assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.01</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.02</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,405</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,559</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Percentage of commissions accrued as a result of rebalancing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90.93</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.58</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">240</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,150</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Percentage of commissions accrued as a result of creation and redemption activity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.07</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.42</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Portfolio Expenses.</I> USL&rsquo;s expenses
consist of investment management fees, brokerage fees and commissions, certain offering costs, licensing fees, registration fees,
the fees and expenses of the independent directors of USCF and expenses relating to tax accounting and reporting requirements.
The management fee that USL pays to USCF is calculated as a percentage of the total net assets of USL. The fee is accrued daily
and paid monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Average interest rates earned on short-term
investments held by USL, including cash, cash equivalents and Treasuries, were higher during the three months ended June 30, 2018,
compared to the three months ended June 30, 2017. As a result, the amount of income earned by&nbsp;USL as a percentage of average
daily total net assets was higher&nbsp;during the three months ended June 30, 2018, compared to the three months ended June 30,
2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The&nbsp;decrease in total fees and other expenses
excluding management fees for the three months ended June 30, 2018, compared to the three months ended&nbsp;June 30, 2017 was due
primarily to USL&rsquo;s smaller&nbsp;size as measured by total net assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The decrease in total commissions accrued to
brokers for the three months ended June 30, 2018, compared to the three months ended June 30, 2017, was due primarily to a lower&nbsp;number
of futures contracts being held and&nbsp;traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Tracking USL's Benchmark</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF seeks to manage USL's portfolio such that
changes in its average daily per share NAV, on a percentage basis, closely&nbsp;track the daily changes in the average of the prices
of the&nbsp;Benchmark Oil Futures Contracts, also on a percentage basis. Specifically, USCF seeks to manage the portfolio such
that over any rolling period of 30-valuation days, the average daily change in&nbsp;USL's per share NAV is within a range of 90%
to 110% (0.9 to 1.1) of the average daily change in the&nbsp;prices of the Benchmark Oil Futures Contracts. As an example, if the
average daily movement of the average of the prices&nbsp;of the&nbsp;Benchmark Oil Futures Contracts for a particular 30-valuation
day time period was 0.50% per day, USCF would attempt to manage the portfolio such that the average daily movement of the per share
NAV during that same time period fell between 0.45% and 0.55% (i.e., between 0.9 and 1.1 of the benchmark&rsquo;s results). USL's
portfolio management goals do not include trying to make the nominal price of&nbsp;USL's per share NAV equal to the average of
the nominal prices&nbsp;of the current Benchmark Oil Futures Contracts or the spot price for light, sweet crude oil. USCF believes
that it is not practical to manage the portfolio to achieve such an investment goal when investing in&nbsp;Oil Futures Contracts
and Other Oil-Related Investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the 30-valuation days ended June 30, 2018,
the simple average daily change in the&nbsp;Benchmark Oil Futures Contracts was 0.018%, while the simple average daily change in
the per share NAV of&nbsp;USL over the same time period was 0.021%. The average daily difference was 0.003% (or&nbsp;0.3 basis
points, where 1 basis point equals 1/100 of 1%). As a percentage of the daily movement of the Benchmark Oil Futures Contracts,
the average error in daily tracking by the per share NAV was (0.260)%, meaning that over this time period USL&rsquo;s tracking
error&nbsp;was within the plus or minus 10% range established as its benchmark tracking goal. A significant portion of the level
of USL's relative tracking error as a percentage of the benchmark was due to periods of flat price returns.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the commencement of the offering of USL&rsquo;s
shares to the public on&nbsp;December 6, 2007 to June 30, 2018, the simple average daily change in the&nbsp;Benchmark Oil Futures
Contracts was (0.004)%, while the simple average daily change in the per share NAV of&nbsp;USL over the same time period was (0.006)%.
The average daily difference was (0.002)% (or&nbsp;(0.2) basis points, where 1 basis point equals 1/100 of 1%). As a percentage
of the daily movement of the Benchmark Oil Futures Contracts, the average error in daily tracking by the per share NAV was (0.767)%,
meaning that over this time period USL&rsquo;s tracking error&nbsp;was within the plus or minus 10% range established as its benchmark
tracking goal. The following two graphs demonstrate the correlation between the changes in USL&rsquo;s NAV and the changes in the
Benchmark Oil Futures Contracts. The first graph exhibits the daily changes in the last 30 valuation days ended June 30, 2018.
The second graph measures monthly changes since June 30, 2013 through June 30, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="tv499183_img1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="tv499183_img2.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An alternative tracking measurement of the
return performance of&nbsp;USL versus the return of its&nbsp;Benchmark Oil Futures Contracts can be calculated by comparing the
actual average of the prices of its return of USL, measured by changes in its per share NAV, versus the expected changes in its
per share NAV under the assumption that USL&rsquo;s returns had been exactly the same as the daily changes in the average of the
prices of its Benchmark Oil Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the&nbsp;six months ended June 30, 2018,
the actual total return of&nbsp;USL as measured by changes in its per share NAV was 20.52%. This is based on an initial per share
NAV of $21.05 as of&nbsp;December 31, 2017 and an ending per share NAV as of&nbsp;June 30, 2018 of $25.37. During this time period,
USL&nbsp;made no distributions to its shareholders. However, if USL&rsquo;s daily changes in its per share NAV had instead exactly
tracked the changes in the daily total return of the Benchmark Oil Futures Contracts,&nbsp;USL would have had an estimated per
share NAV of $25.28 as of June 30, 2018, for a total return over the relevant time period of 20.10%. The difference between the
actual per share NAV total return of USL of 20.52% and the expected total return based on the Benchmark Oil Futures Contracts of
20.10% was an error over the time period of 0.42%, which is to say that USL&rsquo;s actual total return outperformed the benchmark
result&nbsp;by that percentage.&nbsp;USL incurs expenses primarily composed of the management fee, brokerage commissions for the
buying and selling of futures contracts, and other expenses. The impact of these expenses, offset by interest and dividend income,
and net of positive or negative execution, tends to cause daily changes in the per share NAV of&nbsp;USL to track&nbsp;slightly
lower or higher&nbsp;than daily changes in the price of the Benchmark Oil Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By comparison, for the&nbsp;six months ended
June 30, 2017, the actual total return of&nbsp;USL as measured by changes in its per share NAV was (17.66)%. This was based on
an initial per share NAV of $20.39 as of&nbsp;December 31, 2016 and an ending per share NAV as of&nbsp;June 30, 2017 of $16.79.
During this time period,&nbsp;USL made no distributions to its shareholders. However, if USL&rsquo;s daily changes in its per share
NAV had instead exactly tracked the changes in the daily total return of the Benchmark Oil Futures Contracts,&nbsp;USL would have
had an estimated per share NAV of $16.81 as of June 30, 2017, for a total return over the relevant time period of (17.56)%. The
difference between the actual per share NAV total return of USL of (17.66)% and the expected total return based on the Benchmark
Oil Futures Contracts of (17.56)% was an error over the time period of (0.10)%, which is to say that USL&rsquo;s actual total return
underperformed the benchmark result by that percentage.&nbsp;USL incurs expenses primarily composed of the management fee, brokerage
commissions for the buying and selling of futures contracts, and other expenses. The impact of these expenses, offset by interest
and dividend income, and net of positive or negative execution, tended to cause daily changes in the per share NAV of&nbsp;USL
to track slightly lower than daily changes in the price of the Benchmark Oil Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There are currently&nbsp;three factors that
have impacted or are most likely to impact&nbsp;USL's ability to accurately track Benchmark Oil Futures Contracts.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">First,&nbsp;USL&nbsp;may buy or sell its holdings
in the then current&nbsp;Benchmark Oil Futures Contracts at a price other than the closing settlement price of that contract on
the day during which&nbsp;USL executes the trade. In that case,&nbsp;USL may pay a price that is higher, or lower, than that of
the Benchmark Oil Futures Contracts, which could cause the changes in the daily per share NAV of&nbsp;USL to either be too high
or too low relative to the daily changes in the Benchmark Oil Futures Contracts. During the&nbsp;six months ended June 30, 2018,
USCF attempted to minimize the effect of these transactions by seeking to execute its purchase or sale of the&nbsp;Benchmark Oil
Futures Contracts at, or as close as possible to, the end of the day settlement price. However, it may not always be possible for&nbsp;USL
to obtain the closing settlement price and there is no assurance that failure to obtain the closing settlement price in the future
will not adversely impact&nbsp;USL's&nbsp;attempt to track the&nbsp;Benchmark Oil Futures Contracts over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Second,&nbsp;USL incurs expenses
primarily composed of the management fee, brokerage commissions for the buying and selling of futures contracts, and other
expenses. The impact of these expenses tends to cause daily changes in the per share NAV of&nbsp;USL to track slightly lower
than daily changes in the price of the Benchmark Oil Futures Contracts. At the same time,&nbsp;USL earns dividend and
interest income on its cash, cash equivalents and Treasuries.&nbsp;USL is not required to distribute any portion of its
income to its shareholders and did not make any distributions to shareholders during the six months&nbsp;ended June 30, 2018.
Interest payments, and any other income, were retained within the portfolio and added to&nbsp;USL's NAV. When this income
exceeds the level of&nbsp;USL's expenses for its management fee, brokerage commissions and other expenses (including ongoing
registration fees, licensing fees and the fees and expenses of the independent directors of USCF),&nbsp;USL will realize a
net yield that will tend to cause daily changes in the per share NAV of&nbsp;USL to track slightly higher than daily changes
in the average of the prices of the Benchmark Oil Futures Contracts. If short-term interest rates rise above the current
levels, the level of deviation created by the yield would decrease. Conversely, if short-term interest rates were to decline,
the amount of error created by the yield would increase. When short-term yields drop to a level lower than the combined
expenses of the management fee and the brokerage commissions, then the tracking error becomes a negative number and would
tend to cause the daily returns of the per share NAV to underperform the daily returns of the Benchmark Oil Futures
Contracts. As such, USCF anticipates that&nbsp;USL may continue to outperform its benchmark as interest earned continues to
exceed the fees and expenses paid by USL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Third,&nbsp;USL may hold&nbsp;Other Oil-Related
Investments in its portfolio that may fail to closely track the&nbsp;Benchmark Oil Futures Contracts' total return movements. In
that case, the error in tracking the&nbsp;Benchmark Oil Futures Contracts could result in daily changes in the per share NAV of&nbsp;USL
that are either too high, or too low, relative to the daily changes in the Benchmark Oil Futures Contracts. During the&nbsp;six
months ended June 30, 2018,&nbsp;USL did not hold any Other Oil-Related Investments. If USL increases in size, and due to its obligations
to comply with regulatory limits, USL may invest in Other Oil-Related Investments which may have the effect of increasing transaction
related expenses and may result in increased tracking error.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Term Structure of Crude Oil Futures Prices
and the Impact on Total Returns.</I> Several factors determine the total return from investing in futures contracts. One factor
arises from &ldquo;rolling&rdquo; futures contracts that will expire at the end of the current month (the &ldquo;near&rdquo; or
&ldquo;front&rdquo; month contract) forward each month prior to expiration. For a strategy that entails holding the near month
contract, the price relationship between that futures contract and the next month futures contract will impact returns. For example,
if the price of the near month futures contract is higher than the next futures month contract (a situation referred to as &ldquo;backwardation&rdquo;),
then absent any other change, the price of a next month futures contract tends to rise in value as it becomes the near month futures
contract and approaches expiration. Conversely, if the price of a near month futures contract is lower than the next month futures
contract (a situation referred to as &ldquo;contango&rdquo;), then absent any other change, the price of a next month futures contract
tends to decline in value as it becomes the near month futures contract and approaches expiration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As an example, assume that the price of&nbsp;crude
oil for immediate delivery, is $50 per barrel, and the value of a position in the near month futures contract is also $50. Over
time, the price of&nbsp;crude oil will fluctuate based on a number of market factors, including demand for&nbsp;oil relative to
supply. The value of the near month futures contract will likewise fluctuate in reaction to a number of market factors. If an investor
seeks to maintain a position in a near month futures contract and not take delivery of physical&nbsp;barrels of crude oil, the
investor must sell the current near month futures contract as it approaches expiration and invest in the next month futures contract.
In order to continue holding a position in the current near month futures contract, this &ldquo;roll&rdquo; forward of the futures
contract must be executed every month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contango and backwardation are natural market
forces that have impacted the total return on an investment in USL&rsquo;s shares during the past year relative to a hypothetical
direct investment in crude oil. In the future, it is likely that the relationship between the market price of USL&rsquo;s shares
and changes in the spot prices of&nbsp;light, sweet crude oil will continue to be impacted by contango and backwardation. It is
important to note that this comparison ignores the potential costs associated with physically owning and storing crude oil, which
could be substantial.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the futures market is in backwardation,
e.g., when the price of the near month futures contract is&nbsp;higher than the price of the next month futures contract, the investor
would buy a next month futures contract for a lower price than the current near month futures contract. Assuming the price of the
next month futures contract was $49 per barrel, or 2% cheaper than the $50 near month futures contract, then, hypothetically, and
assuming no other changes (e.g., to either prevailing&nbsp;crude oil prices or the price relationship between the spot price, the
near month contract and the next month contract, and, ignoring the impact of commission costs and the income earned on cash and/or
cash equivalents), the value of the $49 next month futures contract would rise to $50 as it approaches expiration. In this example,
the value of an investment in the next month futures contract would tend to outperform the spot price of crude oil. As a result,
it would be possible for the new near month futures contract to rise 12% while the spot price of&nbsp;crude oil may have risen
a lower amount, e.g., only 10%. Similarly, the spot price of&nbsp;crude oil could have fallen 10% while the value of an investment
in the futures contract might have fallen another amount, e.g., only 8%. Over time, if backwardation remained constant, this difference
between the spot price and the futures contract price would continue to increase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the futures market is in contango, an investor
would be buying a next month futures contract for a&nbsp;higher&nbsp;price than the current near month futures contract. Again,
assuming the near month futures contract is $50&nbsp;per barrel, the price of the next month futures contract might be $51 per
barrel, or 2% more expensive than the front month futures contract. Hypothetically, and assuming no other changes, the value of
the $51 next month futures contract would fall to $50 as it approaches expiration. In this example, the value of an investment
in the second month would tend to underperform the spot price of crude oil. As a result, it would be possible for the new near
month futures contract to rise only 10% while the spot price of crude oil&nbsp;may have risen a higher amount, e.g., 12%. Similarly,
the spot price of&nbsp;crude oil could have fallen 10% while the value of an investment in the second month futures contract might
have fallen another amount, e.g., 12%. Over time, if contango remained constant, this difference between the spot price and the
futures contract price would continue to increase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The chart below compares the daily price of
the near month&nbsp;crude oil futures contract to the price of 13<SUP>th</SUP> month&nbsp;crude oil futures contract (i.e., a contract
one year forward) over the last 10 years. When the price of the near month futures contract is higher than the price of the 13<SUP>th</SUP>
month futures contract, the market would be described as being in backwardation. When the price of the near month futures contract
is lower than the 13<SUP>th</SUP> month futures contract, the market would be described as being in contango. Although the price
of the near month futures contract and the price of the 13<SUP>th</SUP> month futures&nbsp;contract tend to move together, it can
be seen that at times the near month futures contract prices are higher than the 13<SUP>th</SUP> month futures&nbsp;contract prices
(backwardation) and, at other times, the near month futures contract prices are lower than the 13<SUP>th</SUP> month futures contract
prices (contango).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="tv499183_img3.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An alternative way to view the same data is
to subtract the dollar price of the 13<SUP>th</SUP> month&nbsp;crude oil futures contract from the dollar price of the near month&nbsp;crude
oil futures contract, as shown in the chart below. When the difference is positive, the market is in backwardation. When the difference
is negative, the market is in contango. The&nbsp;crude oil market spent time in both backwardation and contango during the last
ten years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS </I></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="tv499183_img4.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An investment in a portfolio that owned only
the near month crude oil futures contract would likely produce a different result than an investment in a portfolio that owned
an equal number of each of the near 12 months&rsquo; of crude oil futures contracts. Generally speaking, when the crude oil futures
market is in backwardation, a portfolio of only the near month crude oil futures contract may tend to have a higher total return
than a portfolio of 12 months&rsquo; of the crude oil futures contract. Conversely, if the crude oil futures market was in contango,
the portfolio containing only 12 months&rsquo; of crude oil futures contracts may tend to outperform the portfolio holding only
the near month crude oil futures contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Historically, the crude oil futures markets
have experienced periods of contango and backwardation, with backwardation being in place roughly as often as contango since oil
futures trading started in 1982. Following the global financial crisis in the fourth quarter of 2008, the crude oil market moved
into contango and remained in contango for a period of several years. During parts of 2009, the level of contango was unusually
steep as a combination of slack U.S. and global demand for crude oil and issues involving the physical transportation and storage
of crude oil at Cushing, Oklahoma, the primary pricing point for oil traded in the U.S., led to unusually high inventories of crude
oil. A combination of improved transportation and storage capacity, along with growing demand for crude oil globally, moderated
the inventory build-up and led to reduced levels of contango by 2011. However, at the end of November 2014, global crude oil inventories
grew rapidly after the Organization of Petroleum Exporting Countries (&quot;OPEC&quot;) decided to defend its market share against
U.S. shale-oil producers, resulting in another period during which the crude oil market remained primarily in contango, sometimes
steep contango. This period of contango continued through December 31, 2017 until U.S. and global oil inventories declined. OPEC&rsquo;s
recent cuts in oil production have had their intended effect on the crude oil market and such a decline has led to a backwardated
market in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF believes that holding futures contracts
whose expiration dates are spread out over a 12 month period of time will cause the total return of such a portfolio to vary compared
to a portfolio that holds only a single month&rsquo;s contract (such as the near month contract). In particular, USCF believes
that the total return of a portfolio holding contracts with a range of expiration months will be impacted differently by the price
relationship between different contract months of the same commodity future compared to the total return of a portfolio consisting
of the near month contract. USCF believes that based on historical evidence a portfolio that held futures contracts with a range
of expiration dates spread out over a 12 month period of time would typically be impacted less by the positive effect of backwardation,
and less by the negative effect of contango, compared to a portfolio that held contracts of a single near month. As a result, absent
the impact of any other factors, a portfolio of 12 different monthly contracts would tend to have a lower total return than a near
month only portfolio in a backwardation market and a higher total return in a contango market. However there can be no assurance
that such historical relationships would provide the same or similar results in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Periods of contango or backwardation do not
materially impact USL&rsquo;s investment objective of having the daily percentage changes in its per share NAV track the daily
percentage changes in the average of the prices of the&nbsp;Benchmark Oil Futures Contracts since the impact of backwardation and
contango tend to equally impact the daily percentage changes in price of both USL&rsquo;s shares and the Benchmark Oil Futures
Contracts. It is impossible to predict with any degree of certainty whether backwardation or contango will occur in the future.
It is likely that both conditions will occur during different periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Crude Oil Market.</I> During the six months
ended June 30, 2018, crude oil prices traded in a range between $59.03 to $74.15. Crude continued a bull-run that began in June of 2017
and is up 61.06% over the past year. Crude has returned more than 90% since multi-year lows were reached in early 2016. As of quarter-end,
U.S. crude storage was 17% lower than a year ago, and near 22% below the near-all-time high set last year. Storage has also fallen
below the five-year average level. During the second quarter of 2018, bullish sentiment was driven by ongoing OPEC restraint, which was exacerbated by
unintentionally high compliance. Enthusiasm was not even curtailed by U.S. crude oil production reaching a record 10.9 million
barrels per day. As the second quarter drew to a close, OPEC agreed to bring compliance back down to 100% (essentially meaning
Saudi Arabia agreed to pump more oil to tamp down on runaway prices which could have continued to accelerate as a result of sanctions
on Iran and the ongoing disaster in Venezuela). A backwardated market has helped futures traders with a roll yield exceeding 1%.
Looking ahead, expected demand growth remains strong for the moment. However, uncertainties about trade conflicts could lead to
temporary dislocations in supply and demand, and, should trade conflicts last a protracted amount of time, then global economic
growth is likely to be impacted, which would negatively impact demand for energy. Longer term, many analysts are concerned that
the severe reductions in capital expenditures on exploration and production over the past three years could lead to a shortage
of crude oil in the near future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Crude Oil Price Movements in Comparison
to Other Energy Commodities and Investment Categories.</I> USCF believes that investors frequently measure the degree to which
prices or total returns of one investment or asset class move up or down in value in concert with another investment or asset class.
Statistically, such a measure is usually done by measuring the correlation of the price movements of the two different investments
or asset classes over some period of time. The correlation is scaled between 1 and -1, where 1 indicates that the two investment
options move up or down in price or value together, known as &ldquo;positive correlation,&rdquo; and -1 indicates that they move
in completely opposite directions, known as &ldquo;negative correlation.&rdquo; A correlation of 0 would mean that the movements
of the two are neither positively nor negatively correlated, known as &ldquo;non-correlation.&rdquo; That is, the investment options
sometimes move up and down together and other times move in opposite directions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the ten-year time period between June 30,
2008 and June 30, 2018, the table below compares the monthly movements of crude oil prices versus the monthly movements of the
prices of several other energy commodities, such as natural gas, diesel-heating oil, and unleaded gasoline, as well as several
major non-commodity investment asset classes, such as large cap U.S. equities, U.S. government bonds and global equities. It can
be seen that over this particular time period, the movement of crude oil on a monthly basis exhibited strong correlation with unleaded
gasoline and diesel-heating oil, moderate correlation with the movements of large cap U.S. equities and global equities, limited
correlation with natural gas, and limited negative correlation with U.S. government bonds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Gov&rsquo;t.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Bonds</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Large</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(EFFAS</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Global</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Cap U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Equities</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Equities</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Gov&rsquo;t.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(FTSE</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Diesel-</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><B>Correlation Matrix</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(S&amp;P</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Bond</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>World</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Unleaded</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Heating</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Natural</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Crude</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><B>June 30, 2008 &ndash; June 30, 2018*</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>500)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Index)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Index)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Gasoline</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Oil</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Gas</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Oil</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 32%; padding-left: 0.1in; text-indent: -0.1in">Large Cap U.S. Equities (S&amp;P 500)</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">1.000</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">(0.249</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">)</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">0.966</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">0.458</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">0.478</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">0.127</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><B>0.507</B></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">U.S. Gov&rsquo;t. Bonds (EFFAS U.S. Gov&rsquo;t. Bond Index)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(0.220</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(0.323</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(0.325</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(0.027</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>(0.381</B></TD>
    <TD><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Global Equities (FTSE World Index)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.491</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.507</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.152</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.547</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Unleaded Gasoline</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.691</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Diesel-Heating Oil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.802</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Natural Gas</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.234</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Crude Oil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>1.000</B></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Source: Bloomberg, NYMEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below covers a more recent, but much
shorter, range of dates than the above table. Over the one year period ended June 30, 2018, movements of crude oil displayed moderate
correlation with large cap U.S. equities, global equities and diesel-heating oil, and limited negative to little correlation with
movements with U.S. Government bonds, unleaded gasoline and natural gas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>*PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE
OF FUTURE RESULTS</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Gov&rsquo;t.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Bonds</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Large</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(EFFAS</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Global</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Cap U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>U.S.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Equities</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Equities</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Gov&rsquo;t.</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(FTSE</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Diesel-</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><B>Correlation Matrix </B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>(S&amp;P</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Bond</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>World</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Unleaded</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Heating</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Natural</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><B>Crude</B></TD>
    <TD NOWRAP><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><B>12 Months ended June 30, 2018*</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>500)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Index)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Index)</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Gasoline</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Oil</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Gas</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>Oil</B></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 32%; padding-left: 0.1in; text-indent: -0.1in">Large Cap U.S. Equities (S&amp;P 500)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">1.000</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">(0.343</TD>
    <TD STYLE="width: 1%">)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">0.945</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">(0.042</TD>
    <TD STYLE="width: 1%">)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">0.167</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">0.291</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><B>0.465</B></TD>
    <TD STYLE="width: 1%"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">U.S. Gov&rsquo;t. Bonds (EFFAS U.S. Gov&rsquo;t. Bond Index)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(0.407</TD>
    <TD>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.592</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.415</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.379</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>(0.337</B></TD>
    <TD><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Global Equities (FTSE World Index)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.168</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.601</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Unleaded Gasoline</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.510</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>(0.133</B></TD>
    <TD><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Diesel-Heating Oil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0.129</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>0.517</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Natural Gas</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>(0.175</B></TD>
    <TD><B>)</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in">Crude Oil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>1.000</B></TD>
    <TD><B>&nbsp;</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Source: Bloomberg, NYMEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investors are cautioned that the historical
price relationships between crude oil and various other energy commodities, as well as other investment asset classes, as measured
by correlation may not be reliable predictors of future price movements and correlation results. The results pictured above would
have been different if a different range of dates had been selected. USCF believes that crude oil has historically not demonstrated
a strong correlation with equities or bonds over long periods of time. However, USCF also believes that in the future it is possible
that crude oil could have long term correlation results that indicate prices of crude oil more closely track the movements of equities
or bonds. In addition, USCF believes that, when measured over time periods shorter than ten years, there will always be some periods
where the correlation of crude oil to equities and bonds will be either more strongly positively correlated or more strongly negatively
correlated than the long term historical results suggest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The correlations between crude oil, natural
gas, diesel-heating oil and gasoline are relevant because USCF endeavors to invest USL&rsquo;s assets in Oil Futures Contracts
and Other Oil-Related Investments so that daily changes in percentage terms in USL&rsquo;s per share NAV correlate as closely as
possible with daily changes in percentage terms in the average price of the Benchmark Oil Futures Contracts. If certain other fuel-based
commodity futures contracts do not closely correlate with the crude oil futures contracts, then their use could lead to greater
tracking error. As noted above, USCF also believes that the changes in percentage terms in the price of the Benchmark Oil Futures
Contracts will closely correlate with changes in percentage terms in the spot price of light, sweet crude oil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Critical Accounting Policies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Preparation of the condensed financial statements
and related disclosures in compliance with accounting principles generally accepted in the United States of America requires the
application of appropriate accounting rules and guidance, as well as the use of estimates.&nbsp;USL's application of these policies
involves judgments and actual results may differ from the estimates used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF has evaluated the nature and types of
estimates that it makes in preparing USL's&nbsp;condensed financial statements and related disclosures and has determined that
the valuation of its investments, which are not traded on a United States or internationally recognized futures exchange (such
as forward contracts and OTC swaps) involves a critical accounting policy. The values which are used by&nbsp;USL for its&nbsp;Oil
Futures Contracts are provided by its commodity broker who uses market prices when available, while OTC swaps are valued based
on the present value of estimated future cash flows that would be received from or paid to a third party in settlement of these
derivative contracts prior to their delivery date and valued on a daily basis. In addition,&nbsp;USL estimates interest and dividend
income on a daily basis using prevailing rates earned on its cash and cash equivalents. These estimates are adjusted to the actual
amount received on a monthly basis and the difference, if any, is not considered material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL has not&nbsp;made, and does not anticipate
making, use of borrowings or other lines of credit to meet its obligations.&nbsp;USL has met, and it is anticipated that&nbsp;USL
will continue to meet, its liquidity needs in the normal course of business from the proceeds of the sale of its investments, or
from the Treasuries, cash and/or cash equivalents that it intends to hold at all times.&nbsp;USL's liquidity needs include: redeeming
shares, providing margin deposits for its existing&nbsp;Oil Futures Contracts or the purchase of additional&nbsp;Oil Futures Contracts
and posting collateral for its OTC swaps, if applicable, and payment of its expenses, summarized below under <I>&ldquo;Contractual
Obligations.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&nbsp;currently&nbsp;generates
cash primarily from: (i) the sale of baskets consisting of 50,000 shares (&ldquo;Creation Baskets&rdquo;)&nbsp;and (ii)
income earned on Treasuries, cash and/or cash equivalents.&nbsp;USL has allocated substantially all of its net assets to
trading in&nbsp;Oil&nbsp;Interests.&nbsp;USL invests in&nbsp;Oil Interests to the fullest extent possible without being
leveraged or unable to satisfy its current or potential margin or collateral obligations with respect to its investments
in&nbsp;Oil Futures Contracts and Other Oil-Related Investments. A significant portion of&nbsp;USL's NAV is held in cash and
cash equivalents that are used as margin and as collateral for its trading in&nbsp;Oil&nbsp;Interests. The balance of the
assets is held in&nbsp;USL's account at its custodian bank and in&nbsp;Treasuries at the FCM. Income received
from&nbsp;USL's investments in money market funds and Treasuries is paid to USL. During the&nbsp;six months ended June 30,
2018,&nbsp;USL's expenses did not exceed the income&nbsp;USL earned and the cash earned from the sale of Creation Baskets and
the redemption of Redemption Baskets. During the six months ended June 30, 2018, USL did not use other assets to pay
expenses, which could have caused a decrease in USL's NAV over time. To the extent expenses exceed income, USL's NAV will be
negatively impacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's&nbsp;investments in&nbsp;Oil Interests
may be subject to periods of illiquidity because of market conditions, regulatory considerations and other reasons. For example,
most commodity exchanges limit the fluctuations in futures contracts prices during a single day by regulations referred to as &ldquo;daily
limits.&rdquo; During a single day, no trades may be executed at prices beyond the daily limit. Once the price of a futures contract
has increased or decreased by an amount equal to the daily limit, positions in the contracts can neither be taken nor liquidated
unless the traders are willing to effect trades at or within the specified daily limit. Such market conditions could prevent&nbsp;USL
from promptly liquidating its positions in Oil Futures Contracts. During the six months ended June 30, 2018,&nbsp;USL did not purchase
or liquidate&nbsp;any of its positions while daily limits were in effect; however,&nbsp;USL cannot predict whether such an event
may occur in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to the initial offering of USL, all payments
with respect to USL&rsquo;s expenses were paid by USCF. USL does not have an obligation or intention to refund such payments by
USCF. USCF is under no obligation to pay USL&rsquo;s current or future expenses. Since the initial offering of shares, USL&nbsp;has
been responsible for expenses relating to: (i) management fees, (ii) brokerage fees and commissions, (iii) licensing fees for the
use of intellectual property, (iv) ongoing registration expenses in connection with offers and sales of its shares subsequent to
the initial offering, (v) other expenses, including tax reporting costs, (vi) fees and expenses of the independent directors of
USCF and (vii) other extraordinary expenses not in the ordinary course of business, while USCF has been responsible for expenses
relating to the fees of USL's Marketing Agent, Administrator and Custodian and registration expenses relating to the initial offering
of shares. If USCF and USL are unsuccessful in raising sufficient funds to cover these respective expenses or in locating any other
source of funding, USL will terminate and investors may lose all or part of their investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Market Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Trading in&nbsp;Oil Futures Contracts and Other
Oil-Related Investments, such as forwards, involves&nbsp;USL entering into contractual commitments to purchase or sell&nbsp;oil
at a specified date in the future. The aggregate market value of the contracts will significantly exceed&nbsp;USL's future cash
requirements since&nbsp;USL intends to close out its open positions prior to settlement. As a result,&nbsp;USL is generally only
subject to the risk of loss arising from the change in value of the contracts.&nbsp;USL considers the &ldquo;fair value&rdquo;
of its derivative instruments to be the unrealized gain or loss on the contracts. The market risk associated with&nbsp;USL's commitments
to purchase&nbsp;oil is limited to the aggregate market value of the contracts held. However, should USL enter into a contractual
commitment to sell oil, it would be required to make delivery of the oil at the contract price, repurchase the contract at prevailing
prices or settle in cash. Since there are no limits on the future price of oil, the market risk to USL could be unlimited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's&nbsp;exposure to market risk depends
on a number of factors, including the markets for oil, the volatility of interest rates and foreign exchange rates, the liquidity
of the&nbsp;Oil Futures Contracts and Other Oil-Related Investments markets and the relationships among the contracts held by USL.
Drastic market occurrences could ultimately lead to the loss of all or substantially all of an investor&rsquo;s capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Credit Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When&nbsp;USL enters into&nbsp;Oil Futures
Contracts and Other Oil-Related Investments, it is exposed to the credit risk that the counterparty will not be able to meet its
obligations. The counterparty for the&nbsp;Oil Futures Contracts traded on the&nbsp;NYMEX and on most other futures exchanges&nbsp;is
the clearinghouse associated with the particular exchange. In general, in addition to margin required to be posted by the clearinghouse
in connection with cleared trades, clearinghouses are backed by their members who may be required to share in the financial burden
resulting from the nonperformance of one of their members and, therefore, this additional member support should significantly reduce
credit risk.&nbsp;USL is not currently a member of any clearinghouse. Some foreign exchanges are not backed by their clearinghouse
members but may be backed by a consortium of banks or other financial institutions. There can be no assurance that any counterparty,
clearinghouse, or their members or their financial backers will satisfy their obligations to&nbsp;USL in such circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF attempts to manage the credit risk of&nbsp;USL
by following various trading limitations and policies. In particular,&nbsp;USL generally posts margin and/or holds liquid assets
that are approximately equal to the market value of its obligations to counterparties under the&nbsp;Oil Futures Contracts and
Other Oil-Related Investments&nbsp;it holds. USCF has implemented procedures that include, but are not limited to, executing and
clearing trades only with creditworthy parties and/or requiring the posting of collateral or margin by such parties for the benefit
of&nbsp;USL to limit its credit exposure. An FCM, when acting on behalf of USL&nbsp;in accepting orders to purchase or sell&nbsp;Oil
Futures Contracts on United States exchanges, is required by CFTC regulations to separately account for and segregate as belonging
to USL, all assets of&nbsp;USL relating to domestic&nbsp;Oil Futures Contracts trading. These FCMs are not allowed to commingle&nbsp;USL's
assets with their other assets. In addition, the CFTC requires commodity brokers to hold in a secure account&nbsp;USL's assets
related to foreign&nbsp;Oil Futures Contracts trading.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the future,&nbsp;USL may purchase OTC swaps,
see <I>&ldquo;Item 3. Quantitative and Qualitative Disclosures About Market Risk&rdquo;</I>&nbsp;in this&nbsp;quarterly report
on Form 10-Q for a discussion of OTC swaps.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2018,&nbsp;USL held cash deposits
and investments in Treasuries and money market funds in the amount of $84,009,285 with the custodian and FCM. Some or all of these
amounts held by a custodian or an FCM, as applicable, may be subject to loss should&nbsp;USL's custodian or FCM, as applicable,
cease operations.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Off Balance Sheet Financing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2018,&nbsp;USL had no loan guarantee,
credit support or other off-balance sheet arrangements of any kind other than agreements entered into in the normal course of business,
which may include indemnification provisions relating to certain risks that service providers undertake in performing services
which are in the best interests of USL. While&nbsp;USL's exposure under these indemnification provisions cannot be estimated, they
are not expected to have a material impact on&nbsp;USL's financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>European Sovereign Debt </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL had no&nbsp;direct exposure to European
sovereign debt as of&nbsp;June 30, 2018&nbsp;and has no&nbsp;direct exposure to European sovereign debt as of the filing of this&nbsp;quarterly
report on Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Redemption Basket Obligation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to meet its investment objective and
pay its contractual obligations described below,&nbsp;USL requires liquidity to redeem shares, which redemptions must be in blocks
of&nbsp;50,000 shares called &ldquo;Redemption Baskets.&rdquo;&nbsp;USL has to date satisfied this obligation by paying from the
cash or cash equivalents it holds or through the sale of its Treasuries in an amount proportionate to the number of shares being
redeemed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Contractual Obligations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL's&nbsp;primary contractual obligations
are with USCF. In return for its services, USCF is entitled to a management fee calculated daily and paid monthly as a fixed percentage
of&nbsp;USL's NAV, currently 0.60% of NAV on its average daily total net assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF agreed to pay the start-up costs associated
with the formation of USL, primarily its legal, accounting and other costs in connection with USCF&rsquo;s registration with the
CFTC as a CPO and the registration and listing of USL and its shares with the SEC, FINRA and NYSE Arca (formerly, AMEX), respectively.
However, since USL&rsquo;s initial offering of shares, offering costs incurred in connection with registering and listing additional
shares of USL have been directly borne on an ongoing basis by USL, and not by USCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF pays the fees of the Marketing Agent and
the fees of BBH&amp;Co., as well as BBH&amp;Co.&rsquo;s fees for performing administrative services, including those in connection
with the preparation of USL's condensed financial statements and its SEC, NFA and CFTC reports. USCF and USL have also entered
into a licensing agreement with the NYMEX pursuant to which USL and the Related Public Funds, other than BNO, USCI, CPER, USAG,
USOU and USOD, pay a licensing fee to the NYMEX. USL also pays the fees and expenses associated with its tax accounting and reporting
requirements.<BR>
<BR>
In addition to USCF&rsquo;s management fee, USL pays its brokerage fees (including fees to an FCM), OTC dealer spreads, any licensing
fees for the use of intellectual property, and, subsequent to the initial offering, registration and other fees paid to the SEC,
FINRA, or other regulatory agencies in connection with the offer and sale of shares, as well as legal, printing, accounting and
other expenses associated therewith, and extraordinary expenses. The latter are expenses not incurred in the ordinary course of
USL&rsquo;s business, including expenses relating to the indemnification of any person against liabilities and obligations to the
extent permitted by law and under the LP Agreement, the bringing or defending of actions in law or in equity or otherwise conducting
litigation and incurring legal expenses and the settlement of claims and litigation. Commission payments to an FCM are on a contract-by-contract,
or round turn, basis. USL also pays a portion of the fees and expenses of the independent directors of USCF. See <I>Note 3 </I>to
the <I>Notes to Condensed Financial Statements (Unaudited)</I> in <I>Item 1</I> of this quarterly report on Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The parties cannot anticipate the amount of
payments that will be required under these arrangements for future periods, as&nbsp;USL's per share NAVs and trading levels to
meet its investment objective will not be known until a future date. These agreements are effective for a specific term agreed
upon by the parties with an option to renew, or, in some cases, are in effect for the duration of&nbsp;USL's existence. Either
party may terminate these agreements earlier for certain reasons described in the agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2018,&nbsp;USL's portfolio consisted
of 1,252 Crude Oil Futures CL Contracts traded on the NYMEX. As of June 30, 2018, USL did not hold any Oil Futures Contracts traded
on the ICE Futures. For a list of USL's current holdings, please see USL's website at&nbsp;www.uscfinvestments.com. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_004"></A>Item 3. Quantitative and Qualitative Disclosures
About Market Risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Commodity Price Risk.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL is exposed to commodity price risk. In
particular,&nbsp;USL is exposed to&nbsp;crude oil price risk&nbsp;through its holdings of&nbsp;Oil Futures Contracts together with
any other derivatives in which it may invest, which are discussed below. As a result, fluctuations in the value of the&nbsp;Oil
Futures Contracts that&nbsp;USL holds in its portfolio, as described in <I>&ldquo;Contractual Obligations&quot; </I>under <I>&ldquo;Item
2. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&quot; </I>above, are expected to
directly affect the value of USL's shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>OTC Contract Risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&nbsp;may purchase OTC&nbsp;contracts,&nbsp;such
as forward contracts or swap or spot contracts. Unlike most exchange-traded futures contracts or exchange-traded options on such
futures, each party to an OTC swap bears the credit risk that the other party may not be able to perform its obligations under
its contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&nbsp;may enter into certain transactions
where an OTC component is exchanged for a corresponding futures contract (&ldquo;Exchange for Related Position&rdquo; or &ldquo;EFRP&rdquo;
transactions). In the most common type of EFRP transaction entered into by USL, the OTC component is the purchase or sale of one
or more baskets of&nbsp;USL shares. These EFRP transactions may expose&nbsp;USL to counterparty risk during the interim period
between the execution of the OTC component and the exchange for a corresponding futures contract. Generally, the counterparty risk
from the EFRP transaction will exist only on the day of execution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Swap transactions, like other financial transactions,
involve a variety of significant risks. The specific risks presented by a particular swap transaction necessarily depend upon the
terms and circumstances of the transaction. In general, however, all swap transactions involve some combination of market risk,
credit risk, counterparty credit risk, funding risk, liquidity risk and operational risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Highly customized swap transactions in particular
may increase liquidity risk, which may result in a suspension of redemptions. Highly leveraged transactions may experience substantial
gains or losses in value as a result of relatively small changes in the value or level of an underlying or related market factor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In evaluating the risks and contractual obligations
associated with a particular swap transaction, it is important to consider that a swap transaction may be modified or terminated
only by mutual consent of the original parties and subject to agreement on individually negotiated terms. Therefore, it may not
be possible for USCF to modify, terminate or offset&nbsp;USL's obligations or its exposure to the risks associated with a transaction
prior to its scheduled termination date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To reduce the credit risk that arises in connection
with such contracts,&nbsp;USL will generally enter into an agreement with each counterparty based on the Master Agreement published
by the International Swaps and Derivatives Association that provides for the netting of its overall exposure to its counterparty,
if the counterparty is unable to meet its obligations to&nbsp;USL due to the occurrence of a specified event, such as the insolvency
of the counterparty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USCF&nbsp;assesses or reviews, as appropriate,
the creditworthiness of each potential or existing counterparty to an OTC swap pursuant to guidelines approved by USCF&rsquo;s
board of directors (the &quot;Board&quot;). Furthermore, USCF on behalf of&nbsp;USL only enters into OTC swaps with counterparties
who are, or are affiliates of, (a) banks regulated by a United States federal bank regulator, (b) broker-dealers regulated by the
SEC, (c) insurance companies domiciled in the United States, or (d) producers, users or traders of energy, whether or not regulated
by the CFTC. Any entity acting as a counterparty shall be regulated in either the United States or the United Kingdom unless otherwise
approved by the Board after consultation with its legal counsel. Existing counterparties are also reviewed periodically by USCF.&nbsp;USL
will also require that the counterparty be highly rated and/or provide collateral or other credit support. Even if collateral is
used to reduce counterparty credit risk, sudden changes in the value of OTC transactions may leave a party open to financial risk
due to a counterparty default since the collateral held may not cover a party&rsquo;s exposure on the transaction in such situations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In general, valuing OTC derivatives is less
certain than valuing actively traded financial instruments such as exchange-traded futures contracts and securities or cleared
swaps because the price and terms on which such OTC derivatives are entered into or can be terminated are individually negotiated,
and those prices and terms may not reflect the best price or terms available from other sources. In addition, while market makers
and dealers generally quote indicative prices or terms for entering into or terminating OTC swaps, they typically are not contractually
obligated to do so, particularly if they are not a party to the transaction. As a result, it may be difficult to obtain an independent
value for an outstanding OTC derivatives transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the&nbsp;six month reporting period
ended June 30, 2018, USL limited its OTC activities to EFRP transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL&nbsp;anticipates that the use of&nbsp;Other
Oil-Related Investments together with its investments in&nbsp;Oil Futures Contracts will produce price and total return results
that closely track the investment goals of USL. However, there can be no assurance of this. OTC swaps may result in higher transaction-related
expenses than the brokerage commissions paid in connection with the purchase of Oil Futures Contracts, which may impact&nbsp;USL's
ability to successfully track the Benchmark Oil Futures Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_005"></A>Item 4. Controls and Procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Disclosure Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">USL maintains disclosure controls and procedures
that are designed to ensure that information required to be disclosed in USL&rsquo;s periodic reports filed or submitted under
the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time period specified
in the SEC&rsquo;s rules and forms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The duly appointed officers of USCF, including
its chief executive officer and chief financial officer, who perform functions equivalent to those of a principal executive officer
and principal financial officer of USL if USL had any officers, have evaluated the effectiveness of USL&rsquo;s disclosure controls
and procedures and have concluded that the disclosure controls and procedures of USL have been effective as of the end of the period
covered by this quarterly report on Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Change in Internal Control Over Financial
Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no changes in USL&rsquo;s internal
control over financial reporting during USL&rsquo;s last fiscal quarter that have materially affected, or are reasonably likely
to materially affect, USL&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_006"></A>Part II. OTHER INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_007"></A>Item 1. Legal Proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_008"></A>Item 1A. Risk Factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There have been no material changes to the
risk factors previously disclosed in USL&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed
on March 14, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_009"></A>Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">None.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">USL does not purchase shares directly from its shareholders. In connection with its redemption
of baskets held by Authorized Participants,&nbsp;USL&nbsp;redeemed 5 baskets (comprising 250,000 shares) during the&nbsp;second
quarter of the year ending December 31, 2018. The following table summarizes the redemptions by Authorized Participants during
the&nbsp;three months ended June 30, 2018:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Issuer Purchases of Equity Securities</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Period</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Total <BR>
Number of<BR>
Shares<BR>
 Redeemed</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Average Price Per<BR>
Share</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>4/1/18 to 4/30/18</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">NA</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%">5/1/18 to 5/31/18</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">150,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">24.44</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">6/1/18 to 6/30/18</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">23.35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">250,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_010"></A>Item 3. Defaults Upon Senior Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_011"></A>Item 4. Mine Safety Disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_012"></A>Item 5. Other Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Monthly Account Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirement under Rule 4.22
under the Commodity Exchange Act, each month USL publishes an account statement for its shareholders, which includes a Statement
of Income (Loss) and a Statement of Changes in Net Asset Value. The account statement is furnished to the SEC on a current report
on Form 8-K pursuant to Section 13 or 15(d) of the Exchange Act and posted each month on USL&rsquo;s website at www.uscfinvestments.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><A NAME="a_013"></A>Item 6. Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Listed below are the exhibits, which are filed
as part of this quarterly report on Form 10-Q (according to the number assigned to them in Item 601 of Regulation S-K):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 14%; border-bottom: black 1pt solid"><B>Exhibit Number</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: black 1pt solid; text-align: center"><B>Description of Document</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv499183_ex31-1.htm" STYLE="-sec-extract: exhibit"><B>31.1(1)</B></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv499183_ex31-1.htm" STYLE="-sec-extract: exhibit">Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv499183_ex31-2.htm" STYLE="-sec-extract: exhibit"><B>31.2(1)</B></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv499183_ex31-2.htm" STYLE="-sec-extract: exhibit">Certification by Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv499183_ex32-1.htm" STYLE="-sec-extract: exhibit"><B>32.1(1)</B></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv499183_ex32-1.htm" STYLE="-sec-extract: exhibit">Certification by Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv499183_ex32-2.htm" STYLE="-sec-extract: exhibit"><B>32.2(1)</B></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv499183_ex32-2.htm" STYLE="-sec-extract: exhibit">Certification by Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.INS</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Instance Document.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.SCH</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Taxonomy Extension Schema.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.CAL</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Taxonomy Extension Calculation Linkbase.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.DEF</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Taxonomy Extension Definition Linkbase.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.LAB</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Taxonomy Extension Label Linkbase.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>101.PRE</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">XBRL Taxonomy Extension Presentation Linkbase.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Filed herewith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>United States 12 Month Oil Fund, LP (Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By: United States Commodity Funds LLC, its
general partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: justify">/s/ John P. Love </TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">John P. Love</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">President and Chief Executive Officer</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Principal executive officer)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: August 8, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: justify">/s/ Stuart P. Crumbaugh </TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Stuart P. Crumbaugh</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Principal financial and accounting officer)</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: August 8, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>tv499183_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">I, John P. Love, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. I have reviewed this&nbsp;Quarterly Report
on Form 10-Q of United States 12 Month Oil Fund, LP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. Based on my knowledge, this report does
not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results
of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. The registrant&rsquo;s other certifying
officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(a) Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(b) Designed such internal control
over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(c) Evaluated the effectiveness
of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(d) Disclosed in this report any
change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent
fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or
is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5. The registrant&rsquo;s other certifying
officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of the registrant&rsquo;s Board of Directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(a) All significant deficiencies
and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial
reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date:&nbsp;August 8, 2018</TD>
    <TD STYLE="width: 6%">By</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/ John P. Love </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>John P. Love</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President and Chief Executive Officer&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>United States Commodity Funds LLC,&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>General Partner&nbsp;of&nbsp;United States 12 Month Oil Fund, LP&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>tv499183_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">I, Stuart P. Crumbaugh, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. I have reviewed this&nbsp;Quarterly Report
on Form 10-Q of United States 12 Month Oil Fund, LP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. Based on my knowledge, this report does
not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results
of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. The registrant&rsquo;s other certifying
officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(a) Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(b) Designed such internal control
over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(c) Evaluated the effectiveness
of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(d) Disclosed in this report any
change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent
fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or
is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5. The registrant&rsquo;s other certifying
officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of the registrant&rsquo;s Board of Directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(a) All significant deficiencies
and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial
reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date:&nbsp;August 8, 2018</TD>
    <TD STYLE="width: 6%">By</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/ Stuart P. Crumbaugh </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Stuart P. Crumbaugh</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>United States Commodity Funds LLC,&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>General Partner&nbsp;of&nbsp;United States 12 Month Oil Fund, LP&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>tv499183_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;906 of the Sarbanes-Oxley
Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with the&nbsp;Quarterly
Report on Form 10-Q for the&nbsp;quarter ended June 30, 2018 (the &ldquo;Report&rdquo;) of&nbsp;United States 12 Month Oil Fund,
LP (the &ldquo;Registrant&rdquo;), as filed with the Securities and Exchange Commission on the date hereof, I, John P. Love, the
President and Chief Executive Officer of United States Commodity Funds LLC,&nbsp;General Partner of the Registrant, hereby certify,
to the best of my knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) The Report fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) The information contained in the Report
fairly presents, in all material respects, the financial condition and results of operations of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date:&nbsp;August 8, 2018</TD>
    <TD STYLE="width: 6%">By</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/ John P. Love </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>John P. Love</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President and Chief Executive Officer&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>United States Commodity Funds LLC,&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>General Partner&nbsp;of&nbsp;United States 12 Month Oil Fund, LP&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>tv499183_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><BR>
<B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;906 of the Sarbanes-Oxley
Act of 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with the&nbsp;Quarterly
Report on Form 10-Q for the&nbsp;quarter ended June 30, 2018 (the &ldquo;Report&rdquo;) of&nbsp;United States 12 Month Oil Fund,
LP (the &ldquo;Registrant&rdquo;), as filed with the Securities and Exchange Commission on the date hereof, I, Stuart P. Crumbaugh,
the Chief Financial Officer of United States Commodity Funds LLC,&nbsp;General Partner of the Registrant, hereby certify, to the
best of my knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) The Report fully complies with the requirements
of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) The information contained in the Report
fairly presents, in all material respects, the financial condition and results of operations of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date:&nbsp;August 8, 2018</TD>
    <TD STYLE="width: 6%">By</TD>
    <TD STYLE="width: 44%; border-bottom: black 1pt solid">/s/ Stuart P. Crumbaugh </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Stuart P. Crumbaugh</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>United States Commodity Funds LLC,&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>General Partner&nbsp;of&nbsp;United States 12 Month Oil Fund, LP&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<us-gaap:SignificantAccountingPoliciesTextBlock id="Factid_1095434" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE 2 &#8212; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Basis of Presentation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The financial statements have been prepared in conformity with U.S. GAAP as detailed in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification.&#160;USL is an investment company and follows the accounting and reporting guidance in FASB Topic 946.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the&#160;condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations.&#160;USL earns income on funds held at the custodian or futures commission merchant (&#8220;FCM&#8221;) at prevailing market rates earned on such investments.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Brokerage Commissions&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL is&#160;not subject to federal income taxes; each&#160;partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In accordance with U.S. GAAP, USL is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. USL&#160;files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states.&#160;USL is not&#160;subject to income tax return examinations by major taxing authorities for years before 2014. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in&#160;USL recording a tax liability that reduces net assets. However, USL's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof.&#160;USL recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the&#160;period ended June 30, 2018.&lt;/div&gt;&lt;/div&gt;&lt;div&gt;&#160;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Creations and Redemptions&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Authorized Participants&#160;may purchase Creation Baskets or redeem Redemption Baskets only in blocks of&#160;50,000 shares at a price equal to the NAV of the shares calculated shortly after the close of the core trading session on the NYSE Arca on the day the order is placed.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL receives or pays&#160;the proceeds from shares sold or redeemed within two business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in USL's condensed statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Authorized Participants pay USL a transaction fee of $350 for each order placed to create one or more Creation Baskets or to redeem one or more Redemption Baskets.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Partnership Capital and Allocation of Partnership Income and Losses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Profit or loss shall be allocated among the partners of USL in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Calculation of Per Share NAV&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL's per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. USL uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Net Income (Loss) Per Share&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period.&#160;There were no shares held by USCF at June 30, 2018.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Offering Costs&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Offering costs incurred in connection with the registration of additional shares after the initial registration of shares&#160;are borne by USL. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings.&#160;These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Cash Equivalents&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Reclassification&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Certain amounts in the accompanying condensed financial statements were&#160;reclassified to conform to the current presentation.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Use of Estimates&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The preparation of condensed financial statements in conformity with U.S. GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;New Accounting Pronouncements&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In November 2016, the FASB issued Accounting Standards Update No. 2016-18, &#8220;Statement of Cash Flows (Topic 230): Restricted Cash&#8221; (&#8220;ASU 2016-18&#8221;), which amends ASC 230 to provide guidance on the classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. At this time, management has evaluated the implications of these changes on the financial statements and adopted with no material impact.&lt;/div&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
<usl:FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock id="Factid_1095432" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE 3 &#8212; FEES PAID BY THE FUND&#160;AND RELATED PARTY TRANSACTIONS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;USCF Management Fee&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Under the&#160;LP Agreement, USCF is responsible for investing the assets of&#160;USL in accordance with the objectives and policies of USL. In addition, USCF has arranged for one or more third parties to provide administrative, custody, accounting, transfer agency and other necessary services to USL. For these services,&#160;USL is&#160;contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60%&#160;per annum of average daily total net assets.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Ongoing Registration Fees and Other Offering Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL pays all costs and expenses associated with the ongoing registration of its shares subsequent to the initial offering. These costs include registration or other fees paid to regulatory agencies in connection with the offer and sale of shares, and all legal, accounting, printing and other expenses associated with such offer and sale. For the six months ended June 30, 2018 and 2017, USL did not incur registration fees and other offering expenses.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Independent Directors&#8217; and Officers&#8217; Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL is responsible for paying its portion of the directors&#8217; and officers&#8217; liability insurance for USL and the Related Public Funds and the fees and expenses of the independent directors who also serve as audit committee members of USL and the Related Public Funds.&#160;USL shares the fees and expenses on a pro rata basis with each Related Public Fund, as described above, based on the relative assets of each Related Public Fund computed on a daily basis. These fees and expenses for the year&#160;ending December 31, 2018&#160;are estimated to be a total of $14,500&#160;for&#160;USL and, in the aggregate for USL and the Related Public Funds, $536,200.&#160;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Licensing&#160;Fees&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;As discussed in Note 4 below, USL entered into a licensing agreement with the NYMEX on April 10, 2006, as amended on October 20, 2011. Pursuant to the agreement, USL and the Related Public Funds, other than BNO, USCI, CPER, USAG, USOU and USOD, pay a licensing fee that is equal to 0.015% on all net assets. During the six months ended June 30, 2018 and 2017, USL incurred $6,347 and $8,312, respectively, under this arrangement.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Investor Tax Reporting Cost&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The fees and expenses associated with USL's audit expenses and tax accounting and reporting requirements are paid by USL. These costs are estimated to be $150,000 for the year ending December 31, 2018. Tax reporting costs fluctuate between years due to the number of shareholders during any given year.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Other Expenses and Fees&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In addition to the fees described above, USL pays all brokerage fees and other expenses in connection with the operation of USL, excluding costs and expenses paid by USCF as outlined in &lt;div style="font-style:italic;display:inline;"&gt;Note&#160;4 &#8211; Contracts and Agreements&lt;/div&gt; below.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</usl:FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:LongTermContractsOrProgramsDisclosureTextBlock id="Factid_1227445" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE&#160;4 &#8212; CONTRACTS AND AGREEMENTS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Marketing Agent Agreement&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL is party to a marketing agent agreement, dated as of November 13, 2007, as amended from time to time, with the Marketing Agent and USCF, whereby the Marketing Agent provides certain marketing services for USL as outlined in the agreement. The fee of the Marketing Agent, which is borne by USCF, is equal to 0.06% on USL's assets up to $3 billion and 0.04% on USL's assets in excess of $3 billion. In no event may the aggregate compensation paid to the Marketing Agent and any affiliate of&#160;USCF for distribution-related services exceed 10% of the gross proceeds of&#160;USL's offering.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The above fee does not include website construction and development, which are also&#160;borne by USCF.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&#160;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Brown Brothers Harriman &amp;amp; Co. Agreements&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL is&#160;also party to a&#160;custodian agreement, dated October 5, 2007, as amended from time to time, with Brown Brothers Harriman &amp;amp; Co. (&#8220;BBH&amp;amp;Co.&#8221;) and USCF, whereby BBH&amp;amp;Co. holds investments on behalf of USL.&#160;USCF pays the fees of the custodian, which are determined by the parties from time to time. In addition,&#160;USL is party to an administrative agency agreement, dated October 5, 2007, as amended from time to time, with USCF and BBH&amp;amp;Co., whereby BBH&amp;amp;Co. acts as the administrative agent, transfer agent and registrar for USL.&#160;USCF also pays the fees of BBH&amp;amp;Co. for its services under such agreement and such fees are determined by the parties from time to time.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Currently,&#160;USCF pays BBH&amp;amp;Co. for its services, in the foregoing capacities, a minimum amount of $75,000 annually for its custody, fund accounting and fund administration services rendered to USL and each of the Related Public Funds, as well as a $20,000 annual fee for its transfer agency services. In addition,&#160;USCF pays BBH&amp;amp;Co. an asset-based charge of (a) 0.06% for the first $500 million of the Related Public Funds&#8217; combined net assets, (b) 0.0465% for the Related Public Funds&#8217; combined net assets greater than $500 million but less than $1 billion, and (c) 0.035% once the Related Public Funds&#8217; combined net assets exceed $1 billion. The annual minimum amount will not apply if the asset-based charge for all accounts in the aggregate exceeds $75,000.&#160;USCF also pays BBH&amp;amp;Co. transaction fees ranging from $7 to $15 per transaction.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Brokerage and Futures Commission Merchant Agreements&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;On October 8, 2013, USL entered into a brokerage agreement with RBC Capital Markets, LLC (&#8220;RBC Capital&#8221; or &#8220;RBC&#8221;) to serve as USL's FCM effective October 10, 2013.&#160;The agreement with RBC requires it to provide services to USL in connection with the purchase and sale of&#160;Oil Futures Contracts and Other Oil-Related Investments that may be purchased and sold by or through&#160;RBC Capital for USL's account. In accordance with the agreement,&#160;RBC Capital charges&#160;USL commissions of approximately $7 to $8 per round-turn trade, including applicable exchange, clearing&#160;and NFA fees for&#160;Oil Futures Contracts and options on Oil Futures Contracts. Such fees include those incurred when purchasing&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts when USL issues shares as a result of a Creation Basket, as well as fees incurred when selling&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts when USL redeems shares as a result of a Redemption Basket. Such fees are also incurred when&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts are purchased or redeemed for the purpose of rebalancing the portfolio. 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 (&#8220;Treasuries&#8221;).&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;ended &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;ended &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 64.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total commissions accrued to brokers&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;3,219 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;8,841 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total commissions as annualized percentage of average total net assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.01%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.02%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commissions accrued as a result of rebalancing&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;2,439 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;7,074 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Percentage of commissions accrued as a result of rebalancing&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;75.77%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;80.01%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commissions accrued as a result of creation and redemption activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;780 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;1,767 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Percentage of commissions accrued as a result of creation and redemption activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;24.23%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;19.99%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The decrease in total commissions accrued to brokers for the&#160;six months ended June 30, 2018, compared to the&#160;six months ended June 30, 2017, was due primarily to a lower&#160;number of&#160;crude oil futures contracts being held and traded.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NYMEX&#160;Licensing&#160;Agreement&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL and the NYMEX entered into a licensing agreement on April 10, 2006, as amended on October 20, 2011, whereby USL was granted a non-exclusive license to use certain of the NYMEX&#8217;s settlement prices and service marks. Under the licensing agreement, USL and the Related Public Funds, other than BNO, USCI, CPER, USAG, USOU and USOD, pay the NYMEX an asset-based fee for the license, the terms of which are described in Note 3. USL expressly disclaims any association with the NYMEX or endorsement of USL by the NYMEX and acknowledges that &#8220;NYMEX&#8221; and &#8220;New York Mercantile Exchange&#8221; are registered trademarks of the NYMEX.&#160;&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:LongTermContractsOrProgramsDisclosureTextBlock>
<us-gaap:FinancialInstrumentsDisclosureTextBlock id="Factid_1095428" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE&#160;5 &#8212; FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL&#160;may engage in the trading of futures contracts, options on futures contracts, cleared swaps and OTC swaps (collectively, &#8220;derivatives&#8221;). USL is exposed to both market risk, which is the risk arising from changes in the market value of the contracts, and credit risk, which is the risk of failure by another party to perform according to the terms of a contract.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL may enter into futures contracts, options on futures contracts and cleared swaps to gain exposure to changes in the value of an underlying commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of a commodity at a specified time and place. Some futures contracts may call for physical delivery of the asset, while others are settled in cash. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery. Cleared swaps are agreements that are eligible to be cleared by a clearinghouse, e.g., ICE Clear Europe, and provide the efficiencies and benefits that centralized clearing on an exchange offers to traders of futures contracts, including credit risk intermediation and the ability to offset positions initiated with different counterparties.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The purchase and sale of futures contracts, options on futures contracts and cleared swaps require margin deposits with an FCM. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM&#8217;s proprietary activities.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Futures contracts, options on futures contracts and cleared swaps involve, to varying degrees, elements of market risk (specifically commodity price risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure&#160;USL has in the particular classes of instruments. Additional risks associated with the use of futures contracts are an imperfect correlation between movements in the price of the futures contracts and the market value of the underlying securities and the possibility of an illiquid market for a futures contract. Buying and selling options on futures contracts exposes investors to the risks of purchasing or selling futures contracts.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;All of the futures contracts held by USL through June 30, 2018 were exchange-traded. The risks associated with exchange-traded contracts are generally perceived to be less than those associated with OTC swaps since, in OTC swaps, a party must rely solely on the credit of its respective individual counterparties. However, in the future, if USL were to enter into non-exchange traded contracts, it would be subject to the credit risk associated with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net unrealized gain, if any, on the transaction. USL has credit risk under its futures contracts since the sole counterparty to all domestic and foreign futures contracts is the clearinghouse for the exchange on which the relevant contracts are traded. In addition, USL bears the risk of financial failure by the clearing broker.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL's&#160;cash and other property, such as Treasuries, deposited with an FCM are considered commingled with all other customer funds, subject to the FCM&#8217;s segregation requirements. In the event of an FCM&#8217;s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The insolvency of an FCM could result in the complete loss of&#160;USL's assets posted with that FCM; however, the majority of USL's assets are held in investments in Treasuries,&#160;cash and/or cash equivalents with&#160;USL's custodian and would not be impacted by the insolvency of an FCM. The failure or insolvency of&#160;USL's custodian, however, could result in a substantial loss of&#160;USL's assets.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USCF invests a portion of&#160;USL's cash in money market funds that seek to maintain a stable per share NAV. USL is&#160;exposed to any risk of loss associated with an investment in such money market funds. As of June 30, 2018 and December 31, 2017, USL held investments in money market funds in the amounts of $19,600,000 and $19,000,000, respectively.&#160;USL&#160;also&#160;holds cash deposits with its custodian. Pursuant to a written agreement with BBH&amp;amp;Co., uninvested overnight cash balances are swept to offshore branches of U.S. regulated and domiciled banks located in Toronto, Canada; London, United Kingdom; Grand Cayman, Cayman Islands; and Nassau, Bahamas; which are subject to U.S. regulation and regulatory oversight. As of June 30, 2018 and December 31, 2017, USL held cash deposits and investments in Treasuries in the amounts of $64,409,285 and $69,230,084, respectively, with the custodian and FCM. Some or all of these amounts may be subject to loss should&#160;USL's custodian and/or FCM cease operations.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;For derivatives, risks arise from changes in the market value of the contracts. Theoretically, USL is exposed to market risk equal to the value of&#160;futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and a seller of options, USL pays or receives a premium at the outset and then&#160;bears the risk of unfavorable changes in the price of the contract underlying the option.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL's&#160;policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial, position and credit exposure reporting controls and procedures. In addition, USL has a policy of requiring review of the credit standing of each broker or counterparty with which&#160;it conducts business.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The financial instruments held by USL are reported in its condensed statements of financial condition at market or fair value, or at carrying amounts that approximate fair value, because of their highly liquid nature and short-term maturity.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FinancialInstrumentsDisclosureTextBlock>
<us-gaap:AdditionalFinancialInformationDisclosureTextBlock id="Factid_1095426" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE 6 &#8212; FINANCIAL HIGHLIGHTS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table presents per share performance data and other supplemental financial data for the six months ended June 30, 2018 and 2017 for the shareholders. This information has been derived from information presented in the condensed financial statements.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;(Unaudited)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;(Unaudited)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="text-decoration:underline;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Per Share Operating Performance:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 58.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net asset value, beginning of period&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;21.05 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;20.39 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;4.41 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(3.52 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total expenses&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(0.09 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(0.08 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net increase (decrease) in net asset value&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;4.32 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(3.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net asset value, end of period&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;25.37 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16.79 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total Return&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;20.52 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(17.66 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Ratios to Average Net Assets&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;19.19 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(18.40 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Management fees*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Expenses excluding management fees*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.21 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.27 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;18.78 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(18.83 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 2.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 98.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Annualized.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total returns are calculated based on the change in value during the period. An individual shareholder&#8217;s total return and ratio may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from USL.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:AdditionalFinancialInformationDisclosureTextBlock>
<us-gaap:FairValueDisclosuresTextBlock id="Factid_1095421" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE&#160;7 &#8212; FAIR VALUE OF FINANCIAL INSTRUMENTS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL values its investments in accordance with Accounting Standards Codification 820 &#8211; Fair Value Measurements and Disclosures (&#8220;ASC 820&#8221;). ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of&#160;USL (observable inputs) and (2)&#160;USL's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820 hierarchy are as follows:&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Level I &#8211; Quoted prices (unadjusted) in active markets for &lt;div style="font-style:italic;display:inline;"&gt;identical &lt;/div&gt;assets or liabilities that the reporting entity has the ability to access at the measurement date.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Level II &#8211; Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for &lt;div style="font-style:italic;display:inline;"&gt;similar &lt;/div&gt;assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Level III &#8211; Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety.&lt;/div&gt;&lt;/div&gt;&lt;div&gt;&#160;&lt;/div&gt; &lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table summarizes the valuation of USL&#8217;s securities at June 30, 2018 using the fair value hierarchy:&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level I&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level II&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level III&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 48.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Short-Term Investments&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;83,283,254 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;83,283,254 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Exchange-Traded Futures Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;United States Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;During the six months ended June 30, 2018, there were no transfers between Level I and Level II.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table summarizes the valuation of USL&#8217;s securities at December 31, 2017 using the fair value hierarchy:&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At December 31, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level I&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level II&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level III&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 48.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Short-Term Investments&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;85,783,036 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;85,783,036 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Exchange-Traded Futures Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;United States Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 100.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;During the year ended December 31, 2017, there were no transfers between Level I and Level II.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Effective January 1, 2009, USL adopted the provisions of Accounting Standards Codification 815 &#8211; Derivatives and Hedging, which require presentation of qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts and gains and losses on derivatives.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value of Derivative Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives not&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Accounted for&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;as Hedging&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Condensed&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Statements of &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Financial&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Condition Location&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At June 30, &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At December 31, &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 55.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Futures - Commodity Contracts&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 100.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;The Effect of Derivative Instruments on the Condensed Statements of Operations&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives not &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Accounted for&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;as Hedging &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Location of&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Realized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Change in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Realized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Change in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;width: 28.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Futures - Commodity Contracts&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 19.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Realized gain (loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;closed positions&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;10,264,256 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;6,619,094 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Change in unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;gain (loss) on open&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;positions&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;5,462,074 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(27,523,684 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueDisclosuresTextBlock>
<us-gaap:SubsequentEventsTextBlock id="Factid_1095420" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE 8 &#8212; SUBSEQUENT EVENTS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL has performed an evaluation of subsequent events through the date the condensed financial statements were issued. This evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments&#160;&lt;/div&gt;other than as disclosed below:&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&#160;&lt;/div&gt;&lt;div style="color: rgb(0, 0, 0); font: 10pt &amp;quot;times new roman&amp;quot;, times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; text-align: justify;"&gt;On August 7, 2018, the Board of Directors of USCF authorized and approved the closing and liquidation each of USAG, DNO and UHN together with a plan of liquidation for each of USAG, DNO and UHN. Each of the United States Commodity Index Funds Trust, of which USAG is a series, DNO and UHN filed a current report on Form 8-K dated August 8, 2018 with the SEC that included, as an exhibit, the press release, the applicable plan of liquidation, and, in the case of DNO and UHN, a copy of the notice regarding the liquidation sent to shareholders. In addition, each of USAG, DNO and UHN filed a prospectus supplement with the SEC dated August 8, 2018. &#160;Each of the filings are also available on USCF&#8217;s website at www.uscfinvestments.com.&lt;/div&gt; &lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:SubsequentEventsTextBlock>
<us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock id="Factid_1095435" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Basis of Presentation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The financial statements have been prepared in conformity with U.S. GAAP as detailed in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification.&#160;USL is an investment company and follows the accounting and reporting guidance in FASB Topic 946.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
<usl:BrokerageCommissionsTableTextBlock id="Factid_1227471" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;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 (&#8220;Treasuries&#8221;).&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;ended &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;ended &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 64.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total commissions accrued to brokers&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;3,219 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;8,841 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total commissions as annualized percentage of average total net assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.01%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.02%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commissions accrued as a result of rebalancing&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;2,439 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;7,074 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Percentage of commissions accrued as a result of rebalancing&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;75.77%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;80.01%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commissions accrued as a result of creation and redemption activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;780 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;1,767 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Percentage of commissions accrued as a result of creation and redemption activity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;24.23%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;19.99%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&#160;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</usl:BrokerageCommissionsTableTextBlock>
<usl:PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock id="Factid_1095427" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table presents per share performance data and other supplemental financial data for the six months ended June 30, 2018 and 2017 for the shareholders. This information has been derived from information presented in the condensed financial statements.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;(Unaudited)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: center; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;(Unaudited)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="text-decoration:underline;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Per Share Operating Performance:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 58.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net asset value, beginning of period&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;21.05 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;20.39 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;4.41 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(3.52 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total expenses&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(0.09 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(0.08 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net increase (decrease) in net asset value&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;4.32 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(3.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net asset value, end of period&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;25.37 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16.79 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total Return&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;20.52 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(17.66 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Ratios to Average Net Assets&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Total income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;19.19 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(18.40 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Management fees*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.60 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Expenses excluding management fees*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.21 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;0.27 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Net income (loss)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;18.78 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(18.83 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 2.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;*&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 98.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Annualized.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</usl:PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock>
<us-gaap:FairValueMeasurementInputsDisclosureTextBlock id="Factid_1095422" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table summarizes the valuation of USL&#8217;s securities at June 30, 2018 using the fair value hierarchy:&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level I&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level II&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level III&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 48.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Short-Term Investments&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;83,283,254 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;83,283,254 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Exchange-Traded Futures Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;United States Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;During the six months ended June 30, 2018, there were no transfers between Level I and Level II.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The following table summarizes the valuation of USL&#8217;s securities at December 31, 2017 using the fair value hierarchy:&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At December 31, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Total&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level I&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level II&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Level III&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 48.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Short-Term Investments&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;85,783,036 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;85,783,036 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Exchange-Traded Futures Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;United States Contracts&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8212; &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueMeasurementInputsDisclosureTextBlock>
<us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock id="Factid_1095448" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;NOTE 1 &#8212; ORGANIZATION AND BUSINESS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The United States 12 Month Oil Fund, LP (&#8220;USL&#8221;) was organized as a limited partnership under the laws of the state of Delaware on June 27, 2007. USL is a commodity pool that issues limited partnership shares (&#8220;shares&#8221;) that may be purchased and sold on the NYSE Arca, Inc. (the &#8220;NYSE Arca&#8221;). Prior to November 25, 2008, USL&#8217;s shares traded on the American Stock Exchange (the &#8220;AMEX&#8221;). USL will continue in perpetuity, unless terminated sooner upon the occurrence of one or more events as described in its Third Amended and Restated Agreement of Limited Partnership dated as of December 15, 2017 (the &#8220;LP Agreement&#8221;). The investment objective of USL is for the daily changes in percentage terms of its shares&#8217; per share net asset value (&#8220;NAV&#8221;) to reflect the daily changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the average of the prices of the 12 futures contracts for light, sweet crude oil traded on the New York Mercantile Exchange (the &#8220;NYMEX&#8221;) consisting of the near month contract to expire and the contracts for the following 11 months for a total of 12 consecutive months&#8217; contracts, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire and the contracts for the following 11 consecutive months (the &#8220;Benchmark Oil Futures Contracts&#8221;), less USL&#8217;s expenses. When calculating the daily movement of the average price of the 12 contracts, each contract month will be equally weighted.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL&#8217;s investment objective is &lt;div style="font-style:italic;display:inline;"&gt;not&lt;/div&gt; for its NAV or market price of shares to equal, in dollar terms, the spot price of light, sweet crude oil or any particular futures contract based on light, sweet crude oil, &lt;div style="font-style:italic;display:inline;"&gt;nor&lt;/div&gt; is USL&#8217;s investment objective for the percentage change in its NAV to reflect the percentage change of the price of any particular futures contract as measured over a time period &lt;div style="font-style:italic;display:inline;"&gt;greater than one day&lt;/div&gt;.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;United States Commodity Funds LLC (&#8220;USCF&#8221;), the general partner of USL, believes that it is not practical to manage the portfolio to achieve such an investment goal when investing in Oil Futures Contracts (as defined below) and Other Oil-Related Investments (as defined below). USL accomplishes its objective through investments in futures contracts for light, sweet crude oil and other types of crude oil, diesel-heating oil, gasoline, natural gas and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other U.S. and foreign exchanges (collectively, &#8220;Oil Futures Contracts&#8221;) and other oil-related investments such as cash-settled options on Oil Futures Contracts, forward contracts for oil, cleared swap contracts and over-the-counter (&#8220;OTC&#8221;) transactions that are based on the price of crude oil, diesel-heating oil, gasoline, natural gas and other petroleum-based fuels, Oil Futures Contracts and indices based on the foregoing (collectively, &#8220;Other Oil-Related Investments&#8221;). As of June 30, 2018, USL held 1,252 Oil Futures Contracts for light, sweet crude oil traded on the NYMEX and did not hold any Oil Futures Contracts traded on the ICE Futures.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL commenced investment operations on December 6, 2007 and has a fiscal year ending on December 31. USCF is responsible for the management of USL. USCF is a member of the National Futures Association (the &#8220;NFA&#8221;) and became registered as a commodity pool operator with the Commodity Futures Trading Commission (the &#8220;CFTC&#8221;) effective December 1, 2005 and a swaps firm on August 8, 2013. USCF is also the general partner of the United States Oil Fund, LP (&#8220;USO&#8221;), the United States Natural Gas Fund, LP (&#8220;UNG&#8221;), the United States Gasoline Fund, LP (&#8220;UGA&#8221;) and the United States Diesel-Heating Oil Fund, LP (&#8220;UHN&#8221;), which listed their limited partnership shares on the AMEX under the ticker symbols &#8220;USO&#8221; on April 10, 2006, &#8220;UNG&#8221; on April 18, 2007, &#8220;UGA&#8221; on February 26, 2008 and &#8220;UHN&#8221; on April 9, 2008, respectively. As a result of the acquisition of the AMEX by NYSE Euronext, each of USO&#8217;s, UNG&#8217;s, UGA&#8217;s and UHN&#8217;s shares commenced trading on the NYSE Arca on November 25, 2008. USCF is also the general partner of the United States Short Oil Fund, LP (&#8220;DNO&#8221;), the United States 12 Month Natural Gas Fund, LP (&#8220;UNL&#8221;) and the United States Brent Oil Fund, LP (&#8220;BNO&#8221;), which listed their limited partnership shares on the NYSE Arca under the ticker symbols &#8220;DNO&#8221; on September 24, 2009, &#8220;UNL&#8221; on November 18, 2009 and &#8220;BNO&#8221; on June 2, 2010, respectively. USCF is also the sponsor of the United States Commodity Index Fund (&#8220;USCI&#8221;), the United States Copper Index Fund (&#8220;CPER&#8221;), the United States Agriculture Index Fund (&#8220;USAG&#8221;) and the USCF Canadian Crude Oil Index Fund (&#8220;UCCO&#8221;), each a series of the United States Commodity Index Funds Trust. USCI, CPER and USAG listed their shares on the NYSE Arca under the ticker symbols &#8220;USCI&#8221; on August 10, 2010, &#8220;CPER&#8221; on November 15, 2011 and &#8220;USAG&#8221; on April 13, 2012, respectively. UCCO is currently in registration and has not commenced operations.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In addition, USCF is the sponsor of the USCF Funds Trust, a Delaware statutory trust, and each of its series, the United States 3x Oil Fund (&#8220;USOU&#8221;) and the United States 3x Short Oil Fund (&#8220;USOD&#8221;), which commenced operations on July 20, 2017. Two separate series of the USCF Funds Trust, the REX S&amp;amp;P MLP Fund (&#8220;RMLP&#8221;) and the REX S&amp;amp;P MLP Inverse Fund (&#8220;MLPD&#8221; and together with RMLP, the &#8220;REX Funds&#8221;), which were in registration and had not commenced operations, filed to withdraw from registration on March 30, 2018.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;All funds listed previously, other than UCCO and the REX Funds, are referred to collectively herein as the &#8220;Related Public Funds.&#8221;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL issues shares to certain authorized purchasers (&#8220;Authorized Participants&#8221;) by offering baskets consisting of 50,000 shares (&#8220;Creation Baskets&#8221;) through ALPS Distributors, Inc., as the marketing agent (the &#8220;Marketing Agent&#8221;). The purchase price for a Creation Basket is based upon the NAV of a share calculated shortly after the close of the core trading session on the NYSE Arca on the day the order to create the basket is properly received.&lt;/div&gt;&lt;/div&gt;&lt;div&gt;&#160;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In addition, Authorized Participants pay USL a $350 fee for each order placed to create one or more Creation Baskets or to redeem one or more baskets (&#8220;Redemption Baskets&#8221;), consisting of 50,000 shares. Shares may be purchased or sold on a nationally recognized securities exchange in smaller increments than a Creation Basket or Redemption Basket. Shares purchased or sold on a nationally recognized securities exchange are not purchased or sold at the per share NAV of USL but rather at market prices quoted on such exchange.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;On December 4, 2007, USL initially registered 11,000,000 shares on Form S-1 with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). On December 6, 2007, USL listed its shares on the AMEX under the ticker symbol &#8220;USL&#8221; and switched to trading on the NYSE Arca under the same ticker symbol on November 25, 2008. On that day, USL established its initial per share NAV by setting the price at $50.00 and issued 300,000 shares in exchange for $15,000,000. USL also commenced investment operations on December 6, 2007, by purchasing Oil Futures Contracts traded on the NYMEX based on light, sweet crude oil. As of June 30, 2018, USL had registered a total of 111,000,000 shares.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;The accompanying unaudited condensed financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the SEC and, therefore, do not include all information and footnote disclosure required under generally accepted accounting principles in the United States of America (&#8220;U.S. GAAP&#8221;). The financial information included herein is unaudited; however, such financial information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of USCF, necessary for the fair presentation of the condensed financial statements for the interim period.&lt;/div&gt;&lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
<us-gaap:ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock id="Factid_1095423" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value of Derivative Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives not&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Accounted for&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;as Hedging&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Condensed&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Statements of &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Financial&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Condition Location&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At June 30, &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Fair Value&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;At December 31, &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 55.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Futures - Commodity Contracts&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 18.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;16,534,641 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;11,072,567&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock>
<us-gaap:RevenueRecognitionPolicyTextBlock id="Factid_1095436" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the&#160;condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations.&#160;USL earns income on funds held at the custodian or futures commission merchant (&#8220;FCM&#8221;) at prevailing market rates earned on such investments.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
<us-gaap:CommissionsPolicy id="Factid_1095437" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Brokerage Commissions&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:CommissionsPolicy>
<us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock id="Factid_1095424" contextRef="P01_01_2018To06_30_2018">&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 100.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;The Effect of Derivative Instruments on the Condensed Statements of Operations&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="text-align:left;"&gt;&lt;table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"&gt;&lt;tr&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2018&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;For the six months ended&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;June 30, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives not &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Accounted for&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;as Hedging &lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Instruments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Location of&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Realized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Change in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Realized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss)&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;on Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: center; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Change in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Gain (Loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Derivatives&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Recognized in&lt;/div&gt;&lt;br/&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;width: 28.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Futures - Commodity Contracts&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 19.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Realized gain (loss) on&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;closed positions&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;10,264,256 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 10.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;6,619,094 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;Change in unrealized&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;gain (loss) on open&lt;/div&gt;&lt;br/&gt;&lt;div style="font-size: 10pt; font-family: &amp;quot;times new roman&amp;quot;, times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#8206;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;positions&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;5,462,074 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;$&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;(27,523,684 &lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock id="Factid_1095438" contextRef="P01_01_2018To06_30_2018">&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;&lt;div style="font-weight:bold;display:inline;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"&gt;&lt;div style="white-space: pre-line; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;USL is&#160;not subject to federal income taxes; each&#160;partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return.&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"&gt;&lt;div style="white-space: pre-wrap; font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"&gt;&#160;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"&gt;&lt;div style="font-family: &amp;quot;times new roman&amp;quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"&gt;In accordance with U.S. GAAP, USL is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. USL&#160;files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states.&#160;USL is not&#160;subject to income tax return examinations by major taxing authorities for years before 2014. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in&#160;USL recording a tax liability that reduces net assets. However, USL's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof.&#160;USL recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the&#160;period ended June 30, 2018.&lt;/div&gt;&lt;/div&gt;&lt;table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:IncomeTaxPolicyTextBlock>
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<import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd" />
<import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
<import namespace="http://xbrl.sec.gov/dei/2018-01-31" schemaLocation="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd" />
<import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
<import namespace="http://fasb.org/us-types/2018-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2018/elts/us-types-2018-01-31.xsd" />
<import namespace="http://fasb.org/srt/2018-01-31" schemaLocation="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd" />
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</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>12
<FILENAME>usl-20180630_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DataTracks version 3.0 on 08-August-2018 [01:50:53] {PM} EST - www.datatracks.com-->
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_TradingSymbol" xml:lang="en-US">Trading Symbol</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityDomain" xml:lang="en-US">Entity [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityDomain" xml:lang="en-US">Entity [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AssetsAbstract" xml:lang="en-US">Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents (at cost $79,031,716 and $83,241,625, respectively) (Notes 2 and 5)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" xlink:label="loc_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" xml:lang="en-US">Financial Instruments, Owned, at Fair Value [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" xml:lang="en-US">Equity in trading accounts:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Cash" xlink:label="loc_us-gaap_Cash" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Cash" xml:lang="en-US">Cash</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_Cash" xml:lang="en-US">Cash and cash equivalents (at cost $4,977,569 and $4,988,459, respectively)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Cash" xlink:to="lab_us-gaap_Cash" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:label="loc_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xml:lang="en-US">Unrealized Gain Loss On Open Commodity Futures Contracts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xml:lang="en-US">Unrealized gain (loss) on open commodity futures contracts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xml:lang="en-US">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:to="lab_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xml:lang="en-US">Unrealized gain (loss) on open commodity futures contracts.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DividendsReceivable" xlink:label="loc_us-gaap_DividendsReceivable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DividendsReceivable" xml:lang="en-US">Dividends Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DividendsReceivable" xml:lang="en-US">Dividends receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsReceivable" xlink:to="lab_us-gaap_DividendsReceivable" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestReceivable" xlink:label="loc_us-gaap_InterestReceivable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InterestReceivable" xml:lang="en-US">Interest Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_InterestReceivable" xml:lang="en-US">Interest receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable" xlink:to="lab_us-gaap_InterestReceivable" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsReceivableRelatedParties" xlink:label="loc_us-gaap_AccountsReceivableRelatedParties" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccountsReceivableRelatedParties" xml:lang="en-US">Accounts Receivable, Related Parties</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_AccountsReceivableRelatedParties" xml:lang="en-US">Directors' fees and insurance receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableRelatedParties" xlink:to="lab_us-gaap_AccountsReceivableRelatedParties" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnersCapitalNotesAbstract" xlink:label="loc_us-gaap_PartnersCapitalNotesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapitalNotesAbstract" xml:lang="en-US">Partners Capital Notes [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnersCapitalNotesAbstract" xml:lang="en-US">Liabilities and Partners' Capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalNotesAbstract" xlink:to="lab_us-gaap_PartnersCapitalNotesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueToCorrespondentBrokers" xlink:label="loc_us-gaap_DueToCorrespondentBrokers" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DueToCorrespondentBrokers" xml:lang="en-US">Due to Correspondent Brokers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_DueToCorrespondentBrokers" xml:lang="en-US">Payable due to Broker</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DueToCorrespondentBrokers" xlink:to="lab_us-gaap_DueToCorrespondentBrokers" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" xlink:label="loc_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" xml:lang="en-US">Due to Officers or Stockholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" xml:lang="en-US">General Partner management fees payable (Note 3)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" xlink:to="lab_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xml:lang="en-US">Accrued Professional Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xml:lang="en-US">Professional fees payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:label="loc_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xml:lang="en-US">Commissions Payable To Broker Dealers And Clearing Organizations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xml:lang="en-US">Brokerage commissions payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:to="lab_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ManagementFeePayable" xlink:label="loc_us-gaap_ManagementFeePayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ManagementFeePayable" xml:lang="en-US">Management Fee Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ManagementFeePayable" xml:lang="en-US">Directors' fees and insurance payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeePayable" xlink:to="lab_us-gaap_ManagementFeePayable" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_LicenseFeesPayableCurrentAndNoncurrent" xlink:label="loc_usl_LicenseFeesPayableCurrentAndNoncurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_LicenseFeesPayableCurrentAndNoncurrent" xml:lang="en-US">License Fees Payable Current And Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_LicenseFeesPayableCurrentAndNoncurrent" xml:lang="en-US">License fees payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_LicenseFeesPayableCurrentAndNoncurrent" xlink:to="lab_usl_LicenseFeesPayableCurrentAndNoncurrent" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_LicenseFeesPayableCurrentAndNoncurrent" xml:lang="en-US">License fees payable Current and Noncurrent.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Liabilities" xml:lang="en-US">Liabilities, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments And Contingencies</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and Contingencies&#160;(Notes 3, 4 and 5)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnersCapitalAbstract" xlink:label="loc_us-gaap_PartnersCapitalAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapitalAbstract" xml:lang="en-US">Partners Capital [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnersCapitalAbstract" xml:lang="en-US">Partners' Capital</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GeneralPartnersCapitalAccount" xlink:label="loc_us-gaap_GeneralPartnersCapitalAccount" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccount" xml:lang="en-US">General Partners Capital Account</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccount" xml:lang="en-US">General Partner</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnersCapitalAccount" xlink:to="lab_us-gaap_GeneralPartnersCapitalAccount" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LimitedPartnersCapitalAccount" xlink:label="loc_us-gaap_LimitedPartnersCapitalAccount" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccount" xml:lang="en-US">Limited Partners Capital Account</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccount" xml:lang="en-US">Limited Partners</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedPartnersCapitalAccount" xlink:to="lab_us-gaap_LimitedPartnersCapitalAccount" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnersCapital" xlink:label="loc_us-gaap_PartnersCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapital" xml:lang="en-US">Partners Capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_PartnersCapital" xml:lang="en-US">Total Partners' Capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_us-gaap_PartnersCapital" xml:lang="en-US">Beginning Balances</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_us-gaap_PartnersCapital" xml:lang="en-US">Ending Balances</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapital" xlink:to="lab_us-gaap_PartnersCapital" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities And Stockholders Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Total liabilities and partners' capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:label="loc_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xml:lang="en-US">Limited Partners Capital Account Units Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xml:lang="en-US">Limited Partners' shares outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:to="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NetAssetValuePerUnit" xlink:label="loc_usl_NetAssetValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NetAssetValuePerUnit" xml:lang="en-US">Net Asset Value Per Unit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NetAssetValuePerUnit" xml:lang="en-US">Net asset value per share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_usl_NetAssetValuePerUnit" xml:lang="en-US">Net asset value, beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_usl_NetAssetValuePerUnit" xml:lang="en-US">Net asset value, end of period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NetAssetValuePerUnit" xlink:to="lab_usl_NetAssetValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NetAssetValuePerUnit" xml:lang="en-US">Net asset value per unit.</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_MarketValuePerUnit" xlink:label="loc_usl_MarketValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_MarketValuePerUnit" xml:lang="en-US">Market Value Per Unit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_MarketValuePerUnit" xml:lang="en-US">Market value per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_MarketValuePerUnit" xlink:to="lab_usl_MarketValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_MarketValuePerUnit" xml:lang="en-US">Market value per unit.</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_StatementScheduleOfInvestmentsAbstract" xlink:label="loc_usl_StatementScheduleOfInvestmentsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_StatementScheduleOfInvestmentsAbstract" xml:lang="en-US">Statement Schedule Of Investments [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_StatementScheduleOfInvestmentsAbstract" xlink:to="lab_usl_StatementScheduleOfInvestmentsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_StatementScheduleOfInvestmentsAbstract" xml:lang="en-US">Statement - Schedule of Investments [Abstract]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentAxis" xlink:label="loc_invest_InvestmentAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentAxis" xml:lang="en-US">Investment [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentAxis" xml:lang="en-US">Investment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentAxis" xlink:to="lab_invest_InvestmentAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentDomain" xlink:label="loc_invest_InvestmentDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentDomain" xml:lang="en-US">Investment [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentDomain" xml:lang="en-US">Investment [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentDomain" xlink:to="lab_invest_InvestmentDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashEquivalentsMember" xlink:label="loc_us-gaap_CashEquivalentsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashEquivalentsMember" xml:lang="en-US">Cash Equivalents [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CashEquivalentsMember" xml:lang="en-US">Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashEquivalentsMember" xlink:to="lab_us-gaap_CashEquivalentsMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="loc_us-gaap_InvestmentTypeAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentTypeAxis" xml:lang="en-US">Investment Type [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentTypeAxis" xml:lang="en-US">Investment Type</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis" xlink:to="lab_us-gaap_InvestmentTypeAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="loc_us-gaap_InvestmentTypeCategorizationMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xml:lang="en-US">Investments [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xml:lang="en-US">Investment Type Categorization [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:to="lab_us-gaap_InvestmentTypeCategorizationMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_OpenFuturesContractsLongMember" xlink:label="loc_usl_OpenFuturesContractsLongMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_OpenFuturesContractsLongMember" xml:lang="en-US">Open Futures Contracts Long [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_OpenFuturesContractsLongMember" xml:lang="en-US">Open Futures Contracts, Long</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_OpenFuturesContractsLongMember" xlink:to="lab_usl_OpenFuturesContractsLongMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_OpenFuturesContractsLongMember" xml:lang="en-US">Open Futures Contracts, Long</label>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentGeographicRegionAxis" xlink:label="loc_invest_InvestmentGeographicRegionAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentGeographicRegionAxis" xml:lang="en-US">Investment Geographic Region [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentGeographicRegionAxis" xml:lang="en-US">Investment Geographic Region</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentGeographicRegionAxis" xlink:to="lab_invest_InvestmentGeographicRegionAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentGeographicRegionDomain" xlink:label="loc_invest_InvestmentGeographicRegionDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentGeographicRegionDomain" xml:lang="en-US">Investment Geographic Region [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentGeographicRegionDomain" xml:lang="en-US">Investment Geographic Region [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentGeographicRegionDomain" xlink:to="lab_invest_InvestmentGeographicRegionDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSecuritiesClassAxis" xlink:label="loc_invest_InvestmentSecuritiesClassAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentSecuritiesClassAxis" xml:lang="en-US">Investment Securities Class [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentSecuritiesClassAxis" xml:lang="en-US">Investment Securities Class</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentSecuritiesClassAxis" xlink:to="lab_invest_InvestmentSecuritiesClassAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSecuritiesClassDomain" xlink:label="loc_invest_InvestmentSecuritiesClassDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentSecuritiesClassDomain" xml:lang="en-US">Investment Securities Class [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentSecuritiesClassDomain" xml:lang="en-US">Investment Securities Class [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentSecuritiesClassDomain" xlink:to="lab_invest_InvestmentSecuritiesClassDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_USTreasurySecuritiesMember" xlink:label="loc_us-gaap_USTreasurySecuritiesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_USTreasurySecuritiesMember" xml:lang="en-US">U S Treasury Securities [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_USTreasurySecuritiesMember" xml:lang="en-US">United States Treasury Obligations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_USTreasurySecuritiesMember" xml:lang="en-US">US Treasury Securities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_USTreasurySecuritiesMember" xlink:to="lab_us-gaap_USTreasurySecuritiesMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_us-gaap_MoneyMarketFundsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">United States - Money Market Funds</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MoneyMarketFundsMember" xlink:to="lab_us-gaap_MoneyMarketFundsMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSecuritiesSeriesAxis" xlink:label="loc_invest_InvestmentSecuritiesSeriesAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentSecuritiesSeriesAxis" xml:lang="en-US">Investment Securities Series [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentSecuritiesSeriesAxis" xml:lang="en-US">Investment Securities Series</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentSecuritiesSeriesAxis" xlink:to="lab_invest_InvestmentSecuritiesSeriesAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentSecuritiesSeriesDomain" xlink:label="loc_invest_InvestmentSecuritiesSeriesDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentSecuritiesSeriesDomain" xml:lang="en-US">Investment Securities Series [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentSecuritiesSeriesDomain" xml:lang="en-US">Investment Securities Series [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentSecuritiesSeriesDomain" xlink:to="lab_invest_InvestmentSecuritiesSeriesDomain" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member" xlink:label="loc_usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL August 2018 contracts, expiring July 2018 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member" xlink:to="lab_usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member" xlink:label="loc_usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL September 2018 contracts, expiring August 2018 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member" xlink:to="lab_usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member" xlink:label="loc_usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL October 2018 contracts, expiring September 2018 [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member" xlink:to="lab_usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NymexWtiCrudeOilFuturesClDecember2017ContractsExpiringNovember2017Member" xlink:label="loc_usl_NymexWtiCrudeOilFuturesClDecember2017ContractsExpiringNovember2017Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClDecember2017ContractsExpiringNovember2017Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL December 2017 contracts, expiring November 2017 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClDecember2017ContractsExpiringNovember2017Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL November 2018 contracts, expiring October 2018 [Member]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClMarch2019ContractsExpiringFebruary2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL March 2019 contracts, expiring February 2019 [Member]</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NymexWtiCrudeOilFuturesClApril2019ContractsExpiringMarch2019Member" xlink:label="loc_usl_NymexWtiCrudeOilFuturesClApril2019ContractsExpiringMarch2019Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NymexWtiCrudeOilFuturesClApril2019ContractsExpiringMarch2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL April 2019 contracts, expiring March 2019 [Member]</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesOneMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesOneMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesOneMember" xml:lang="en-US">US Treasury Bill Securities One [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesOneMember" xml:lang="en-US">U.S. Treasury Bills 1.56%, 7/05/2018</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwoMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwoMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwoMember" xml:lang="en-US">US Treasury Bill Securities Two [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwoMember" xml:lang="en-US">U.S. Treasury Bills 1.56%, 7/12/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesTwoMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesTwoMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesThreeMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesThreeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesThreeMember" xml:lang="en-US">US Treasury Bill Securities Three [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesThreeMember" xml:lang="en-US">U.S. Treasury Bills 1.60%, 7/19/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesThreeMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesThreeMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesFourMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesFourMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesFourMember" xml:lang="en-US">US Treasury Bill Securities Four [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesFourMember" xml:lang="en-US">U.S. Treasury Bills 1.61%, 7/26/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesFourMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesFourMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesFiveMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesFiveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesFiveMember" xml:lang="en-US">US Treasury Bill Securities Five [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesFiveMember" xml:lang="en-US">U.S. Treasury Bills 1.63%, 8/02/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesFiveMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesFiveMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesSixMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesSixMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesSixMember" xml:lang="en-US">US Treasury Bill Securities Six [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesSixMember" xml:lang="en-US">U.S. Treasury Bills 1.71%, 8/09/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesSixMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesSixMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_USTreasuryBillsSevenMember" xlink:label="loc_usl_USTreasuryBillsSevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_USTreasuryBillsSevenMember" xml:lang="en-US">US Treasury Bills Seven [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_USTreasuryBillsSevenMember" xml:lang="en-US">U.S. Treasury Bills 1.77%, 8/16/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_USTreasuryBillsSevenMember" xlink:to="lab_usl_USTreasuryBillsSevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_USTreasuryBillsSevenMember" xml:lang="en-US">US Treasury Bills Seven</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesEightMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesEightMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesEightMember" xml:lang="en-US">US Treasury Bill Securities Eight [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesEightMember" xml:lang="en-US">U.S. Treasury Bills 1.82%, 8/23/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesEightMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesEightMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesNineMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesNineMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesNineMember" xml:lang="en-US">US Treasury Bill Securities Nine [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesNineMember" xml:lang="en-US">U.S. Treasury Bills 1.82%, 8/30/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesNineMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesNineMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTenMember" xml:lang="en-US">US Treasury Bill Securities Ten [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTenMember" xml:lang="en-US">U.S. Treasury Bills 1.85%, 9/06/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesTenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesTenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesElevenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesElevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesElevenMember" xml:lang="en-US">US Treasury Bill Securities Eleven [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesElevenMember" xml:lang="en-US">U.S. Treasury Bills 1.90%, 9/13/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesElevenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesElevenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwelveMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwelveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwelveMember" xml:lang="en-US">US Treasury Bill Securities Twelve [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwelveMember" xml:lang="en-US">U.S. Treasury Bills 1.92%, 9/20/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesTwelveMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesTwelveMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesThirteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesThirteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesThirteenMember" xml:lang="en-US">US Treasury Bill Securities Thirteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesThirteenMember" xml:lang="en-US">U.S. Treasury Bills 1.90%, 9/27/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesThirteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesThirteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesFourteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesFourteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesFourteenMember" xml:lang="en-US">US Treasury Bill Securities Fourteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesFourteenMember" xml:lang="en-US">U.S. Treasury Bills 1.87%, 10/04/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesFourteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesFourteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesFifteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesFifteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesFifteenMember" xml:lang="en-US">US Treasury Bill Securities Fifteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesFifteenMember" xml:lang="en-US">U.S. Treasury Bills 1.90%, 10/11/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesFifteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesFifteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesSixteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesSixteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesSixteenMember" xml:lang="en-US">US Treasury Bill Securities Sixteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesSixteenMember" xml:lang="en-US">U.S. Treasury Bills 1.97%, 10/18/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesSixteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesSixteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesSeventeenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesSeventeenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesSeventeenMember" xml:lang="en-US">US Treasury Bill Securities Seventeen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesSeventeenMember" xml:lang="en-US">U.S. Treasury Bills 2.00%, 10/25/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesSeventeenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesSeventeenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesEighteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesEighteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesEighteenMember" xml:lang="en-US">US Treasury Bill Securities Eighteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesEighteenMember" xml:lang="en-US">U.S. Treasury Bills 2.00%, 11/01/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesEighteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesEighteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesNineteenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesNineteenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesNineteenMember" xml:lang="en-US">US Treasury Bill Securities Nineteen [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesNineteenMember" xml:lang="en-US">U.S. Treasury Bills 2.03%, 11/08/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesNineteenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesNineteenMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentyMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentyMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyMember" xml:lang="en-US">US Treasury Bill Securities Twenty [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyMember" xml:lang="en-US">U.S. Treasury Bills 2.05%, 11/15/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesTwentyMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesTwentyMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentyOneMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentyOneMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyOneMember" xml:lang="en-US">US Treasury Bill Securities Twenty One [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyOneMember" xml:lang="en-US">U.S. Treasury Bills 2.07%, 11/23/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesTwentyOneMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesTwentyOneMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentyTwoMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentyTwoMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyTwoMember" xml:lang="en-US">US Treasury Bill Securities Twenty Two [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyTwoMember" xml:lang="en-US">U.S. Treasury Bills 2.05%, 11/29/2018</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentyThreeMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentyThreeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyThreeMember" xml:lang="en-US">US Treasury Bill Securities Twenty Three [Member]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyFourMember" xml:lang="en-US">US Treasury Bill Securities Twenty Four [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyFourMember" xml:lang="en-US">U.S.Treasury Bills 2.06%, 12/13/2018</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentyFiveMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentyFiveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyFiveMember" xml:lang="en-US">US Treasury Bill Securities Twenty Five [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentyFiveMember" xml:lang="en-US">U.S.Treasury Bills 2.09%, 12/20/2018</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesTwentySixMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesTwentySixMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentySixMember" xml:lang="en-US">US Treasury Bill Securities Twenty Six [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesTwentySixMember" xml:lang="en-US">U.S.Treasury Bills 2.07%, 12/27/2018</label>
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<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member" xlink:label="loc_usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL May 2019 contracts expiring April 2019 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL May 2019 contracts, expiring April 2019</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL May 2019 contracts, expiring April 2019</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" xlink:label="loc_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL June 2019 contracts expiring May 2019 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL June 2019 contracts, expiring May 2019</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" xlink:to="lab_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL June 2019 contracts, expiring May 2019</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member" xlink:label="loc_usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL July 2019 contracts expiring June 2019 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL July 2019 contracts, expiring June 2019</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL July 2019 contracts, expiring June 2019</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xml:lang="en-US">Derivative Instrument Risk [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xml:lang="en-US">Derivative Instrument Risk</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xml:lang="en-US">Derivative Contract Type [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xml:lang="en-US">Derivative Contract Type [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" xlink:label="loc_usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" xml:lang="en-US">Fidelity Investments Money Market Funds - Government Portfolio [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" xml:lang="en-US">Fidelity Investments Money Market Funds - Government Portfolio [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" xlink:to="lab_usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember" xlink:label="loc_usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember" xml:lang="en-US">Goldman Sachs Financial Square Funds - Government Fund - Class FS [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember" xlink:to="lab_usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" xlink:label="loc_usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" xml:lang="en-US">Morgan Stanley Institutional Liquidity Funds - Government Portfolio [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" xlink:to="lab_usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="loc_us-gaap_InvestmentOwnedAtFairValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xml:lang="en-US">Investment Owned, at Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_InvestmentOwnedAtFairValue" xml:lang="en-US">Notional Amount</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedAtFairValue" xlink:to="lab_us-gaap_InvestmentOwnedAtFairValue" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedBalanceContracts" xlink:label="loc_us-gaap_InvestmentOwnedBalanceContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedBalanceContracts" xml:lang="en-US">Investment Owned Balance Contracts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedBalanceContracts" xml:lang="en-US">Number of Contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedBalanceContracts" xlink:to="lab_us-gaap_InvestmentOwnedBalanceContracts" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:label="loc_us-gaap_InvestmentOwnedBalancePrincipalAmount" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedBalancePrincipalAmount" xml:lang="en-US">Investment Owned Balance Principal Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedBalancePrincipalAmount" xml:lang="en-US">Principal Amount</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:to="lab_us-gaap_InvestmentOwnedBalancePrincipalAmount" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:label="loc_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xml:lang="en-US">Investment Owned Underlying Face Amount At Market Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xml:lang="en-US">Market Value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:to="lab_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PercentageOfPartnersCapital" xlink:label="loc_usl_PercentageOfPartnersCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PercentageOfPartnersCapital" xml:lang="en-US">Percentage Of Partners Capital</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_PercentageOfPartnersCapital" xml:lang="en-US">% of Partners' Capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PercentageOfPartnersCapital" xlink:to="lab_usl_PercentageOfPartnersCapital" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PercentageOfPartnersCapital" xml:lang="en-US">Percentage of Partners Capital</label>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_US" xlink:label="loc_country_US" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_country_US" xml:lang="en-US">UNITED STATES</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_country_US" xml:lang="en-US">United States</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_US" xlink:to="lab_country_US" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UsTreasuryBillSecuritiesSevenMember" xlink:label="loc_usl_UsTreasuryBillSecuritiesSevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UsTreasuryBillSecuritiesSevenMember" xml:lang="en-US">US Treasury Bill Securities Seven [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_UsTreasuryBillSecuritiesSevenMember" xml:lang="en-US">U.S. Treasury Bills 1.77%, 8/16/2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UsTreasuryBillSecuritiesSevenMember" xlink:to="lab_usl_UsTreasuryBillSecuritiesSevenMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xml:lang="en-US">Interest rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" xlink:label="loc_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" xml:lang="en-US">Investment Owned Subject To Option Exercise Dates</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" xml:lang="en-US">Expiration date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" xlink:to="lab_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CollateralAmountOnOpenFuturesContracts" xlink:label="loc_usl_CollateralAmountOnOpenFuturesContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CollateralAmountOnOpenFuturesContracts" xml:lang="en-US">Collateral Amount On Open Futures Contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CollateralAmountOnOpenFuturesContracts" xlink:to="lab_usl_CollateralAmountOnOpenFuturesContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CollateralAmountOnOpenFuturesContracts" xml:lang="en-US">The collateral amount on open future contracts.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Income Statement [Abstract]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income Loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:label="loc_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xml:lang="en-US">Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xml:lang="en-US">Net income (loss) per limited partnership share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:to="lab_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xlink:label="loc_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xml:lang="en-US">Net Income (Loss), Net of Tax, Per Outstanding Limited Partnership Unit, Diluted, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xml:lang="en-US">Net income (loss) per weighted average limited partnership share</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:label="loc_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xml:lang="en-US">Weighted Average Limited Partnership Units Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xml:lang="en-US">Weighted average limited partnership shares outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:to="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RevenuesAbstract" xml:lang="en-US">Revenues [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_RevenuesAbstract" xml:lang="en-US">Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract" xlink:to="lab_us-gaap_RevenuesAbstract" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GainLossOnCommodityFuturesAbstract" xlink:label="loc_usl_GainLossOnCommodityFuturesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GainLossOnCommodityFuturesAbstract" xml:lang="en-US">Gain Loss On Commodity Futures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_GainLossOnCommodityFuturesAbstract" xml:lang="en-US">Gain (loss) on trading of commodity futures contracts:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GainLossOnCommodityFuturesAbstract" xlink:to="lab_usl_GainLossOnCommodityFuturesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GainLossOnCommodityFuturesAbstract" xml:lang="en-US">Gain (Loss) On Commodity Futures [Abstract]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnSaleOfInvestments" xlink:label="loc_us-gaap_GainLossOnSaleOfInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments" xml:lang="en-US">Gain Loss On Sale Of Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments" xml:lang="en-US">Realized gain (loss) on closed futures contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfInvestments" xlink:to="lab_us-gaap_GainLossOnSaleOfInvestments" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UnrealizedGainLossOnInvestments" xlink:label="loc_us-gaap_UnrealizedGainLossOnInvestments" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xml:lang="en-US">Unrealized Gain Loss On Investments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_UnrealizedGainLossOnInvestments" xml:lang="en-US">Change in unrealized gain (loss) on open futures contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnInvestments" xlink:to="lab_us-gaap_UnrealizedGainLossOnInvestments" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DividendIncomeOperating" xlink:label="loc_us-gaap_DividendIncomeOperating" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DividendIncomeOperating" xml:lang="en-US">Dividend Income Operating</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DividendIncomeOperating" xml:lang="en-US">Dividend income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendIncomeOperating" xlink:to="lab_us-gaap_DividendIncomeOperating" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestIncomeOperating" xlink:label="loc_us-gaap_InterestIncomeOperating" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InterestIncomeOperating" xml:lang="en-US">Interest Income Operating</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_InterestIncomeOperating" xml:lang="en-US">Interest income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeOperating" xlink:to="lab_us-gaap_InterestIncomeOperating" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherIncome" xlink:label="loc_us-gaap_OtherIncome" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OtherIncome" xml:lang="en-US">Other Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OtherIncome" xml:lang="en-US">ETF transaction fees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncome" xlink:to="lab_us-gaap_OtherIncome" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Revenues" xml:lang="en-US">Revenues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_Revenues" xml:lang="en-US">Total income (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xml:lang="en-US">Operating Expenses [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xml:lang="en-US">Expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Operating Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_OperatingExpenses" xml:lang="en-US">Total expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ManagementFeeExpense" xlink:label="loc_us-gaap_ManagementFeeExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ManagementFeeExpense" xml:lang="en-US">Management Fee Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ManagementFeeExpense" xml:lang="en-US">General Partner management fees (Note 3)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeeExpense" xlink:to="lab_us-gaap_ManagementFeeExpense" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="loc_us-gaap_ProfessionalFees" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ProfessionalFees" xml:lang="en-US">Professional Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ProfessionalFees" xml:lang="en-US">Professional fees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfessionalFees" xlink:to="lab_us-gaap_ProfessionalFees" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:label="loc_us-gaap_FloorBrokerageExchangeAndClearanceFees" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" xml:lang="en-US">Floor Brokerage Exchange And Clearance Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" xml:lang="en-US">Brokerage commissions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" xml:lang="en-US">Brokerage commissions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:to="lab_us-gaap_FloorBrokerageExchangeAndClearanceFees" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NoninterestExpenseDirectorsFees" xlink:label="loc_us-gaap_NoninterestExpenseDirectorsFees" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NoninterestExpenseDirectorsFees" xml:lang="en-US">Noninterest Expense Directors Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NoninterestExpenseDirectorsFees" xml:lang="en-US">Directors' fees and insurance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:label="lab_us-gaap_NoninterestExpenseDirectorsFees" xml:lang="en-US">Estimated directors' fees and expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpenseDirectorsFees" xlink:to="lab_us-gaap_NoninterestExpenseDirectorsFees" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_LicenseFeesAndOtherOfferingExpenses" xlink:label="loc_usl_LicenseFeesAndOtherOfferingExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_LicenseFeesAndOtherOfferingExpenses" xml:lang="en-US">License Fees And Other Offering Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_LicenseFeesAndOtherOfferingExpenses" xml:lang="en-US">License fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_LicenseFeesAndOtherOfferingExpenses" xml:lang="en-US">Licensing fee incurred</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_LicenseFeesAndOtherOfferingExpenses" xlink:to="lab_usl_LicenseFeesAndOtherOfferingExpenses" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_LicenseFeesAndOtherOfferingExpenses" xml:lang="en-US">It represent the value of license fees and other offering expenses.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfPartnersCapitalAbstract" xlink:label="loc_us-gaap_StatementOfPartnersCapitalAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfPartnersCapitalAbstract" xml:lang="en-US">Statement Of Partners Capital [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfPartnersCapitalAbstract" xlink:to="lab_us-gaap_StatementOfPartnersCapitalAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnerCapitalComponentsAxis" xlink:label="loc_us-gaap_PartnerCapitalComponentsAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnerCapitalComponentsAxis" xml:lang="en-US">Partner Capital Components [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnerCapitalComponentsAxis" xml:lang="en-US">Partner Capital Components [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnerCapitalComponentsAxis" xlink:to="lab_us-gaap_PartnerCapitalComponentsAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnerCapitalComponentsDomain" xlink:label="loc_us-gaap_PartnerCapitalComponentsDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnerCapitalComponentsDomain" xml:lang="en-US">Partner Capital Components [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnerCapitalComponentsDomain" xml:lang="en-US">Partner Capital Components [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnerCapitalComponentsDomain" xlink:to="lab_us-gaap_PartnerCapitalComponentsDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GeneralPartnerMember" xlink:label="loc_us-gaap_GeneralPartnerMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_GeneralPartnerMember" xml:lang="en-US">General Partner [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_GeneralPartnerMember" xml:lang="en-US">General Partner</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnerMember" xlink:to="lab_us-gaap_GeneralPartnerMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LimitedPartnerMember" xlink:label="loc_us-gaap_LimitedPartnerMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LimitedPartnerMember" xml:lang="en-US">Limited Partner [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LimitedPartnerMember" xml:lang="en-US">Limited Partners</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedPartnerMember" xlink:to="lab_us-gaap_LimitedPartnerMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="loc_us-gaap_PartnersCapitalAccountRedemptions" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapitalAccountRedemptions" xml:lang="en-US">Partners Capital Account Redemptions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="lab_us-gaap_PartnersCapitalAccountRedemptions" xml:lang="en-US">Redemption of 950,000 partnership shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAccountRedemptions" xlink:to="lab_us-gaap_PartnersCapitalAccountRedemptions" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NetAssetValuePerUnitAbstract" xlink:label="loc_usl_NetAssetValuePerUnitAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NetAssetValuePerUnitAbstract" xml:lang="en-US">Net Asset Value Per Unit [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NetAssetValuePerUnitAbstract" xml:lang="en-US">Net Asset Value Per Share:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NetAssetValuePerUnitAbstract" xlink:to="lab_usl_NetAssetValuePerUnitAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NetAssetValuePerUnitAbstract" xml:lang="en-US">Net Asset Value, per unit [Abstract]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:label="loc_us-gaap_PartnersCapitalAccountUnitsRedeemed" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PartnersCapitalAccountUnitsRedeemed" xml:lang="en-US">Partners Capital Account Units Redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_PartnersCapitalAccountUnitsRedeemed" xml:lang="en-US">Redemption of partnership unit shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:to="lab_us-gaap_PartnersCapitalAccountUnitsRedeemed" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statement Of Cash Flows [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Cash Flows from Operating Activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xml:lang="en-US">Unrealized Gain Loss On Derivatives And Commodity Contracts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xml:lang="en-US">Unrealized (gain) loss on open futures contracts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xml:lang="en-US">Change in Unrealized Gain (Loss) on Derivatives Recognized in Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:to="lab_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInDividendsReceivable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInDividendsReceivable" xml:lang="en-US">Increase Decrease In Dividends Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInDividendsReceivable" xml:lang="en-US">(Increase) decrease in dividends receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:to="lab_us-gaap_IncreaseDecreaseInDividendsReceivable" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xml:lang="en-US">Increase (Decrease) in Accrued Interest Receivable, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xml:lang="en-US">(Increase) decrease in interest receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xml:lang="en-US">Increase (Decrease) in Accounts Receivable, Related Parties</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xml:lang="en-US">(Increase) decrease in directors' fees and insurance receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:label="loc_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xml:lang="en-US">Increase (Decrease) in Payables to Broker-Dealers and Clearing Organizations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xml:lang="en-US">Increase (decrease) in payable due to Broker</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:to="lab_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_IncreaseDecreaseManagementFeesPayable" xlink:label="loc_usl_IncreaseDecreaseManagementFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_IncreaseDecreaseManagementFeesPayable" xml:lang="en-US">Increase Decrease Management Fees Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_IncreaseDecreaseManagementFeesPayable" xml:lang="en-US">Increase (decrease) in General Partner management fees payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_IncreaseDecreaseManagementFeesPayable" xlink:to="lab_usl_IncreaseDecreaseManagementFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_IncreaseDecreaseManagementFeesPayable" xml:lang="en-US">Increase (Decrease) Management Fees Payable</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_IncreaseDecreaseInProfessionalFeesPayable" xlink:label="loc_usl_IncreaseDecreaseInProfessionalFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_IncreaseDecreaseInProfessionalFeesPayable" xml:lang="en-US">Increase Decrease In Professional Fees Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_IncreaseDecreaseInProfessionalFeesPayable" xml:lang="en-US">Increase (decrease) in professional fees payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_IncreaseDecreaseInProfessionalFeesPayable" xlink:to="lab_usl_IncreaseDecreaseInProfessionalFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_IncreaseDecreaseInProfessionalFeesPayable" xml:lang="en-US">Increase (Decrease) In Professional Fees Payable</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_IncreaseDecreaseInBrokerageCommissionsPayable" xlink:label="loc_usl_IncreaseDecreaseInBrokerageCommissionsPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_IncreaseDecreaseInBrokerageCommissionsPayable" xml:lang="en-US">Increase Decrease In Brokerage Commissions Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_IncreaseDecreaseInBrokerageCommissionsPayable" xml:lang="en-US">Increase (decrease) in brokerage commissions payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_IncreaseDecreaseInBrokerageCommissionsPayable" xlink:to="lab_usl_IncreaseDecreaseInBrokerageCommissionsPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_IncreaseDecreaseInBrokerageCommissionsPayable" xml:lang="en-US">The increase (decrease) during the reporting period in the aggregate amount of obligations incurred arising from transactions with broker-dealers, such as amounts due on margin and unsettled cash transactions; includes payables to brokers and dealers.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xlink:label="loc_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xml:lang="en-US">Increase (Decrease) in Due to Officers and Stockholders</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xml:lang="en-US">Increase (decrease) in directors' fees and insurance payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xlink:to="lab_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_IncreaseDecreaseInLicenseFeesPayable" xlink:label="loc_usl_IncreaseDecreaseInLicenseFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_IncreaseDecreaseInLicenseFeesPayable" xml:lang="en-US">Increase Decrease In License Fees Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_IncreaseDecreaseInLicenseFeesPayable" xml:lang="en-US">Increase (decrease) in license fees payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_IncreaseDecreaseInLicenseFeesPayable" xlink:to="lab_usl_IncreaseDecreaseInLicenseFeesPayable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_IncreaseDecreaseInLicenseFeesPayable" xml:lang="en-US">Increase (Decrease) in License Fees Payable</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Cash Flows from Financing Activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromPartnershipContribution" xlink:label="loc_us-gaap_ProceedsFromPartnershipContribution" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ProceedsFromPartnershipContribution" xml:lang="en-US">Proceeds From Partnership Contribution</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ProceedsFromPartnershipContribution" xml:lang="en-US">Addition of partnership shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPartnershipContribution" xlink:to="lab_us-gaap_ProceedsFromPartnershipContribution" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PaymentsToPartnershipRedemption" xlink:label="loc_usl_PaymentsToPartnershipRedemption" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PaymentsToPartnershipRedemption" xml:lang="en-US">Payments To Partnership Redemption</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_usl_PaymentsToPartnershipRedemption" xml:lang="en-US">Redemption of partnership shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PaymentsToPartnershipRedemption" xlink:to="lab_usl_PaymentsToPartnershipRedemption" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PaymentsToPartnershipRedemption" xml:lang="en-US">Payments To Partnership Redemption</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash provided by (used in) financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Cash And Cash Equivalents Period Increase Decrease</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net Increase (Decrease) in Cash and Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xlink:label="loc_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xml:lang="en-US">Cash And Cash Equivalents And Equity In Trading Accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xlink:to="lab_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CashAndCashEquivalentsAndEquityInTradingAccounts" xml:lang="en-US">Represents the amount of cash and cash equivalents and equity in trading accounts.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xml:lang="en-US">Components of Cash and Cash Equivalents:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_EquityInTradingAccountsAbstract" xlink:label="loc_usl_EquityInTradingAccountsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_EquityInTradingAccountsAbstract" xml:lang="en-US">Equity In Trading Accounts [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_EquityInTradingAccountsAbstract" xml:lang="en-US">Equity in Trading Accounts:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_EquityInTradingAccountsAbstract" xlink:to="lab_usl_EquityInTradingAccountsAbstract" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CashAndCashEquivalentsInEquityInTradingAccounts" xlink:label="loc_usl_CashAndCashEquivalentsInEquityInTradingAccounts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CashAndCashEquivalentsInEquityInTradingAccounts" xml:lang="en-US">Cash And Cash Equivalents In Equity In Trading Accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_usl_CashAndCashEquivalentsInEquityInTradingAccounts" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_usl_CashAndCashEquivalentsInEquityInTradingAccounts" xml:lang="en-US">Cash and Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CashAndCashEquivalentsInEquityInTradingAccounts" xlink:to="lab_usl_CashAndCashEquivalentsInEquityInTradingAccounts" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CashAndCashEquivalentsInEquityInTradingAccounts" xml:lang="en-US">Represents the amount of cash and cash equivalents in equity in trading accounts.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xml:lang="en-US">Organization and Business</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Accounting Policies [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Summary of Significant Accounting Policies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FeesPaidAndRelatedPartyTransactionsAbstract" xlink:label="loc_usl_FeesPaidAndRelatedPartyTransactionsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsAbstract" xml:lang="en-US">Fees Paid And Related Party Transactions [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FeesPaidAndRelatedPartyTransactionsAbstract" xlink:to="lab_usl_FeesPaidAndRelatedPartyTransactionsAbstract" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US">Fees Paid And Related Party Transactions Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US">Fees Paid by the Fund and Related Party Transactions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US">Fees Paid and Related Party Transactions Disclosure [Text Block]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ContractorsAbstract" xlink:label="loc_us-gaap_ContractorsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ContractorsAbstract" xml:lang="en-US">Contractors [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractorsAbstract" xlink:to="lab_us-gaap_ContractorsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:label="loc_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xml:lang="en-US">Long-term Contracts or Programs Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xml:lang="en-US">Contracts and Agreements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:to="lab_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:label="loc_usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xml:lang="en-US">Financial Instruments Off Balance Sheet Risks And Contingencies [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:to="lab_usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:label="loc_us-gaap_FinancialInstrumentsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FinancialInstrumentsDisclosureTextBlock" xml:lang="en-US">Financial Instruments Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_FinancialInstrumentsDisclosureTextBlock" xml:lang="en-US">Financial Instruments, Off-Balance Sheet Risks and Contingencies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:to="lab_us-gaap_FinancialInstrumentsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FinancialHighlightsAbstract" xlink:label="loc_usl_FinancialHighlightsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FinancialHighlightsAbstract" xml:lang="en-US">Financial Highlights [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FinancialHighlightsAbstract" xlink:to="lab_usl_FinancialHighlightsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:label="loc_us-gaap_AdditionalFinancialInformationDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xml:lang="en-US">Additional Financial Information Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xml:lang="en-US">Financial Highlights</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:to="lab_us-gaap_AdditionalFinancialInformationDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xml:lang="en-US">Fair Value Disclosures [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xml:lang="en-US">Fair Value of Financial Instruments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xml:lang="en-US">Subsequent Events [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract" xlink:to="lab_us-gaap_SubsequentEventsAbstract" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Events [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Events</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xml:lang="en-US">Basis of Presentation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xml:lang="en-US">Revenue Recognition</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="lab_us-gaap_RevenueRecognitionPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommissionsPolicy" xlink:label="loc_us-gaap_CommissionsPolicy" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommissionsPolicy" xml:lang="en-US">Commissions, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_CommissionsPolicy" xml:lang="en-US">Brokerage Commissions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommissionsPolicy" xlink:to="lab_us-gaap_CommissionsPolicy" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:label="loc_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xml:lang="en-US">Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xml:lang="en-US">Creations and Redemptions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:to="lab_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:label="loc_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xml:lang="en-US">Incentive Distribution Policy, Managing Member or General Partner, Description [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xml:lang="en-US">Partnership Capital and Allocation of Partnership Income and Losses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:to="lab_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NetAssetValuePolicyTextBlock" xlink:label="loc_usl_NetAssetValuePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NetAssetValuePolicyTextBlock" xml:lang="en-US">Net Asset Value Policy [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NetAssetValuePolicyTextBlock" xml:lang="en-US">Calculation of Per Share NAV</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NetAssetValuePolicyTextBlock" xlink:to="lab_usl_NetAssetValuePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NetAssetValuePolicyTextBlock" xml:lang="en-US">Net Asset Value [Policy Text Block]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Net Income (Loss) Per Share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_OtherOperatingIncomeExpensePolicyTextBlock" xlink:label="loc_usl_OtherOperatingIncomeExpensePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_OtherOperatingIncomeExpensePolicyTextBlock" xml:lang="en-US">Other Operating Income Expense Policy [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_OtherOperatingIncomeExpensePolicyTextBlock" xml:lang="en-US">Offering Costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_OtherOperatingIncomeExpensePolicyTextBlock" xlink:to="lab_usl_OtherOperatingIncomeExpensePolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_OtherOperatingIncomeExpensePolicyTextBlock" xml:lang="en-US">Other Operating Income (Expense), Policy [Text Block]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US">Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xml:lang="en-US">Reclassification, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xml:lang="en-US">Reclassification</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_us-gaap_UseOfEstimates" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates" xlink:to="lab_us-gaap_UseOfEstimates" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">New Accounting Pronouncements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_BrokerageCommissionsTableTextBlock" xlink:label="loc_usl_BrokerageCommissionsTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_BrokerageCommissionsTableTextBlock" xml:lang="en-US">Brokerage Commissions [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_BrokerageCommissionsTableTextBlock" xml:lang="en-US">Brokerage Commissions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_BrokerageCommissionsTableTextBlock" xlink:to="lab_usl_BrokerageCommissionsTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_BrokerageCommissionsTableTextBlock" xml:lang="en-US">Tabular disclosure of fees earned by the broker commission.</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:label="loc_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xml:lang="en-US">Per Unit Performance Data And Other Supplemental Financial Data Table [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xml:lang="en-US">Per Unit Performance Data and Other Supplemental Financial Data</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:to="lab_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xml:lang="en-US">Per Unit Performance Data and Other Supplemental Financial Data [Table Text Block]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xlink:label="loc_us-gaap_FairValueMeasurementInputsDisclosureTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xml:lang="en-US">Fair Value Measurement Inputs Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xml:lang="en-US">Valuation of Securities Using Fair Value Hierarchy</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementInputsDisclosureTextBlock" xlink:to="lab_us-gaap_FairValueMeasurementInputsDisclosureTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xml:lang="en-US">Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xml:lang="en-US">Fair Value of Derivative Instruments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xml:lang="en-US">Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xml:lang="en-US">Effect of Derivative Instruments on the Statements of Operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:label="loc_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:to="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Table]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PeriodAxis" xlink:label="loc_usl_PeriodAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PeriodAxis" xml:lang="en-US">Period [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PeriodAxis" xlink:to="lab_usl_PeriodAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PeriodAxis" xml:lang="en-US">Period [Axis]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PeriodDomain" xlink:label="loc_usl_PeriodDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PeriodDomain" xml:lang="en-US">Period [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_PeriodDomain" xml:lang="en-US">Period [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PeriodDomain" xlink:to="lab_usl_PeriodDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PeriodDomain" xml:lang="en-US">Period [Domain]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CreationBasketsMember" xlink:label="loc_usl_CreationBasketsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CreationBasketsMember" xml:lang="en-US">Creation Baskets [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_CreationBasketsMember" xml:lang="en-US">Creation Baskets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CreationBasketsMember" xlink:to="lab_usl_CreationBasketsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CreationBasketsMember" xml:lang="en-US">Creation Baskets [Member]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:label="loc_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:to="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NumberOfUnitsPerBasket" xlink:label="loc_usl_NumberOfUnitsPerBasket" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NumberOfUnitsPerBasket" xml:lang="en-US">Number Of Units Per Basket</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_NumberOfUnitsPerBasket" xml:lang="en-US">Number of shares per basket</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NumberOfUnitsPerBasket" xlink:to="lab_usl_NumberOfUnitsPerBasket" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NumberOfUnitsPerBasket" xml:lang="en-US">Number of Units per Basket</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FeePaidPerOrder" xlink:label="loc_usl_FeePaidPerOrder" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FeePaidPerOrder" xml:lang="en-US">Fee Paid Per Order</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_FeePaidPerOrder" xml:lang="en-US">Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FeePaidPerOrder" xlink:to="lab_usl_FeePaidPerOrder" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_FeePaidPerOrder" xml:lang="en-US">Fee Paid Per Order</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UnitsIssuedDuringPeriodUnitsNewIssues" xlink:label="loc_usl_UnitsIssuedDuringPeriodUnitsNewIssues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UnitsIssuedDuringPeriodUnitsNewIssues" xml:lang="en-US">Units Issued During Period Units New Issues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_UnitsIssuedDuringPeriodUnitsNewIssues" xml:lang="en-US">Number of shares issued</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UnitsIssuedDuringPeriodUnitsNewIssues" xlink:to="lab_usl_UnitsIssuedDuringPeriodUnitsNewIssues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_UnitsIssuedDuringPeriodUnitsNewIssues" xml:lang="en-US">Units Issued During Period, Units, New Issues</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_UnitsIssuedDuringPeriodValueNewIssues" xlink:label="loc_usl_UnitsIssuedDuringPeriodValueNewIssues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_UnitsIssuedDuringPeriodValueNewIssues" xml:lang="en-US">Units Issued During Period Value New Issues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_UnitsIssuedDuringPeriodValueNewIssues" xml:lang="en-US">Value of shares issued</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_UnitsIssuedDuringPeriodValueNewIssues" xlink:to="lab_usl_UnitsIssuedDuringPeriodValueNewIssues" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_UnitsIssuedDuringPeriodValueNewIssues" xml:lang="en-US">Units Issued During Period, Value, New Issues</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NumberOfRegisteredUnits" xlink:label="loc_usl_NumberOfRegisteredUnits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NumberOfRegisteredUnits" xml:lang="en-US">Number Of Registered Units</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_NumberOfRegisteredUnits" xml:lang="en-US">Number of registered shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NumberOfRegisteredUnits" xlink:to="lab_usl_NumberOfRegisteredUnits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NumberOfRegisteredUnits" xml:lang="en-US">Number of Registered Units</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_SignificantAccountingPoliciesTable" xlink:label="loc_usl_SignificantAccountingPoliciesTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_SignificantAccountingPoliciesTable" xml:lang="en-US">Significant Accounting Policies [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_SignificantAccountingPoliciesTable" xml:lang="en-US">Significant Accounting Policies [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_SignificantAccountingPoliciesTable" xlink:to="lab_usl_SignificantAccountingPoliciesTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_SignificantAccountingPoliciesTable" xml:lang="en-US">Significant Accounting Policies [Table]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_RangeAxis" xml:lang="en-US">Range [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_RangeMember" xml:lang="en-US">Range [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_srt_RangeMember" xml:lang="en-US">Range [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScenarioForecastMember" xlink:label="loc_us-gaap_ScenarioForecastMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScenarioForecastMember" xml:lang="en-US">Scenario, Forecast [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_us-gaap_ScenarioForecastMember" xml:lang="en-US">Prior to July 1, 2011</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioForecastMember" xlink:to="lab_us-gaap_ScenarioForecastMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_SignificantAccountingPoliciesLineItems" xlink:label="loc_usl_SignificantAccountingPoliciesLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_SignificantAccountingPoliciesLineItems" xml:lang="en-US">Significant Accounting Policies [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_SignificantAccountingPoliciesLineItems" xml:lang="en-US">Significant Accounting Policies [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_SignificantAccountingPoliciesLineItems" xlink:to="lab_usl_SignificantAccountingPoliciesLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_SignificantAccountingPoliciesLineItems" xml:lang="en-US">Significant Accounting Policies [Line Items]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_NumberOfSharesPerBasket" xlink:label="loc_usl_NumberOfSharesPerBasket" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_NumberOfSharesPerBasket" xml:lang="en-US">Number of Shares per basket</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_NumberOfSharesPerBasket" xlink:to="lab_usl_NumberOfSharesPerBasket" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_NumberOfSharesPerBasket" xml:lang="en-US">Number of Shares per Basket.</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xml:lang="en-US">Schedule Of Related Party Transactions By Related Party [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="loc_us-gaap_TypeOfArrangementAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xml:lang="en-US">Type Of Arrangement [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_TypeOfArrangementAxis" xml:lang="en-US">Type of Arrangement and Non-arrangement Transactions [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfArrangementAxis" xlink:to="lab_us-gaap_TypeOfArrangementAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xml:lang="en-US">Arrangements and Non-arrangement Transactions [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xml:lang="en-US">Arrangements and Non-arrangement Transactions [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentIdentifierSchemeAxis" xlink:label="loc_invest_InvestmentIdentifierSchemeAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentIdentifierSchemeAxis" xml:lang="en-US">Investment Identifier Scheme [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentIdentifierSchemeAxis" xml:lang="en-US">Investment Identifier Scheme [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentIdentifierSchemeAxis" xlink:to="lab_invest_InvestmentIdentifierSchemeAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentIdentifierSchemeDomain" xlink:label="loc_invest_InvestmentIdentifierSchemeDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_invest_InvestmentIdentifierSchemeDomain" xml:lang="en-US">Investment Identifier Scheme [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_invest_InvestmentIdentifierSchemeDomain" xml:lang="en-US">Investment Identifier Scheme [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_invest_InvestmentIdentifierSchemeDomain" xlink:to="lab_invest_InvestmentIdentifierSchemeDomain" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FundTrustsMember" xlink:label="loc_usl_FundTrustsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FundTrustsMember" xml:lang="en-US">Fund Trusts [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_FundTrustsMember" xml:lang="en-US">USL and the Related Public Funds, other than USCI, USAG, CPER and USMI</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FundTrustsMember" xlink:to="lab_usl_FundTrustsMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_FundTrustsMember" xml:lang="en-US">Fund Trusts [Member]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupThreeMember" xlink:label="loc_usl_GroupThreeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupThreeMember" xml:lang="en-US">Group Three [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_GroupThreeMember" xml:lang="en-US">On and after October 20, 2011</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupThreeMember" xlink:to="lab_usl_GroupThreeMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupThreeMember" xml:lang="en-US">Group Three</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="loc_us-gaap_StatementScenarioAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_StatementScenarioAxis" xml:lang="en-US">Scenario [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementScenarioAxis" xlink:to="lab_us-gaap_StatementScenarioAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_us-gaap_ScenarioUnspecifiedDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain" xml:lang="en-US">Scenario, Unspecified [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioUnspecifiedDomain" xlink:to="lab_us-gaap_ScenarioUnspecifiedDomain" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:label="loc_usl_FeesPaidAndRelatedPartyTransactionsLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsLineItems" xml:lang="en-US">Fees Paid And Related Party Transactions [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsLineItems" xml:lang="en-US">Fees Paid and Related Party Transactions [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:to="lab_usl_FeesPaidAndRelatedPartyTransactionsLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_FeesPaidAndRelatedPartyTransactionsLineItems" xml:lang="en-US">Fees Paid and Related Party Transactions [Line Items]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ManagementFeeDescription" xlink:label="loc_us-gaap_ManagementFeeDescription" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ManagementFeeDescription" xml:lang="en-US">Management Fee Description</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ManagementFeeDescription" xml:lang="en-US">USCF Management Fee</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeeDescription" xlink:to="lab_us-gaap_ManagementFeeDescription" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_BaseFeePercentage" xlink:label="loc_usl_BaseFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_BaseFeePercentage" xml:lang="en-US">Base Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_BaseFeePercentage" xml:lang="en-US">Fee percentage</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_BaseFeePercentage" xlink:to="lab_usl_BaseFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_BaseFeePercentage" xml:lang="en-US">Base Fee Percentage</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="loc_us-gaap_OtherGeneralExpense" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_OtherGeneralExpense" xml:lang="en-US">Other General Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_OtherGeneralExpense" xml:lang="en-US">Estimated investor tax reporting cost</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherGeneralExpense" xlink:to="lab_us-gaap_OtherGeneralExpense" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="loc_srt_ProductOrServiceAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_ProductOrServiceAxis" xml:lang="en-US">Product and Service [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductOrServiceAxis" xlink:to="lab_srt_ProductOrServiceAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="loc_srt_ProductsAndServicesDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_ProductsAndServicesDomain" xml:lang="en-US">Product and Service [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductsAndServicesDomain" xlink:to="lab_srt_ProductsAndServicesDomain" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NatureOfExpenseAxis" xlink:label="loc_us-gaap_NatureOfExpenseAxis" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NatureOfExpenseAxis" xml:lang="en-US">Nature Of Expense [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NatureOfExpenseAxis" xlink:to="lab_us-gaap_NatureOfExpenseAxis" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:label="loc_us-gaap_InterimPeriodCostsNotAllocableDomain" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_InterimPeriodCostsNotAllocableDomain" xml:lang="en-US">Interim Period Costs Not Allocable [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:to="lab_us-gaap_InterimPeriodCostsNotAllocableDomain" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_RebalancingInvestmentsTransactionMember" xlink:label="loc_usl_RebalancingInvestmentsTransactionMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_RebalancingInvestmentsTransactionMember" xml:lang="en-US">Rebalancing Investments Transaction [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_RebalancingInvestmentsTransactionMember" xlink:to="lab_usl_RebalancingInvestmentsTransactionMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_RebalancingInvestmentsTransactionMember" xml:lang="en-US">Rebalancing Investments Transaction [Member]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_TradesNecessitatedByCreationAndRedemptionActivityMember" xlink:label="loc_usl_TradesNecessitatedByCreationAndRedemptionActivityMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_TradesNecessitatedByCreationAndRedemptionActivityMember" xml:lang="en-US">Trades Necessitated By Creation And Redemption Activity [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_TradesNecessitatedByCreationAndRedemptionActivityMember" xlink:to="lab_usl_TradesNecessitatedByCreationAndRedemptionActivityMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_TradesNecessitatedByCreationAndRedemptionActivityMember" xml:lang="en-US">Trades Necessitated By Creation And Redemption Activity [Member]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:label="loc_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xml:lang="en-US">Long Duration Contracts Assumptions By Product And Guarantee [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xml:lang="en-US">Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:to="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PercentageOfAverageDailyNetAssets" xlink:label="loc_usl_PercentageOfAverageDailyNetAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PercentageOfAverageDailyNetAssets" xml:lang="en-US">Percentage Of Average Daily Net Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_PercentageOfAverageDailyNetAssets" xml:lang="en-US">Brokerage commissions as a percentage of average daily net assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PercentageOfAverageDailyNetAssets" xlink:to="lab_usl_PercentageOfAverageDailyNetAssets" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PercentageOfAverageDailyNetAssets" xml:lang="en-US">Percentage of Average Daily Net Assets</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:label="loc_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xml:lang="en-US">Long Duration Contracts Assumptions By Product And Guarantee [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xml:lang="en-US">Long-Duration Contracts, Assumptions, by Product and Guarantee [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:to="lab_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_MarketingAgreementMember" xlink:label="loc_usl_MarketingAgreementMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_MarketingAgreementMember" xml:lang="en-US">Marketing Agreement [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_MarketingAgreementMember" xml:lang="en-US">Marketing Agreement</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_MarketingAgreementMember" xlink:to="lab_usl_MarketingAgreementMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_MarketingAgreementMember" xml:lang="en-US">Marketing Agreement</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupFourMember" xlink:label="loc_usl_GroupFourMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupFourMember" xml:lang="en-US">Group Four [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_GroupFourMember" xml:lang="en-US">USL's assets up to $3 billion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupFourMember" xlink:to="lab_usl_GroupFourMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupFourMember" xml:lang="en-US">Group Four</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupFiveMember" xlink:label="loc_usl_GroupFiveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupFiveMember" xml:lang="en-US">Group Five [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_GroupFiveMember" xml:lang="en-US">USL's assets in excess of $3 billion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupFiveMember" xlink:to="lab_usl_GroupFiveMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupFiveMember" xml:lang="en-US">Group Five</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupSixMember" xlink:label="loc_usl_GroupSixMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupSixMember" xml:lang="en-US">Group Six [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_GroupSixMember" xml:lang="en-US">First $500 million of USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupSixMember" xlink:to="lab_usl_GroupSixMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupSixMember" xml:lang="en-US">Group Six</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupSevenMember" xlink:label="loc_usl_GroupSevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupSevenMember" xml:lang="en-US">Group Seven [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_GroupSevenMember" xml:lang="en-US">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupSevenMember" xlink:to="lab_usl_GroupSevenMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupSevenMember" xml:lang="en-US">Group Seven</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_GroupEightMember" xlink:label="loc_usl_GroupEightMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_GroupEightMember" xml:lang="en-US">Group Eight [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_GroupEightMember" xml:lang="en-US">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets exceed $1 billion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_GroupEightMember" xlink:to="lab_usl_GroupEightMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_GroupEightMember" xml:lang="en-US">Group Eight</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_BasisAmountForFeePercentage" xlink:label="loc_usl_BasisAmountForFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_BasisAmountForFeePercentage" xml:lang="en-US">Basis Amount For Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_BasisAmountForFeePercentage" xml:lang="en-US">Base amount for determining fee percentage</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_BasisAmountForFeePercentage" xlink:to="lab_usl_BasisAmountForFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_BasisAmountForFeePercentage" xml:lang="en-US">Basis Amount for Fee Percentage</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" xlink:label="loc_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" xml:lang="en-US">Noninterest Expense Transfer Agent And Custodian Fees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" xml:lang="en-US">Annual Fee for transfer agency services</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" xlink:to="lab_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_TransactionFeesPaidPerTransaction" xlink:label="loc_usl_TransactionFeesPaidPerTransaction" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_TransactionFeesPaidPerTransaction" xml:lang="en-US">Transaction Fees Paid Per Transaction</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_TransactionFeesPaidPerTransaction" xml:lang="en-US">Transaction fees per transaction</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_TransactionFeesPaidPerTransaction" xlink:to="lab_usl_TransactionFeesPaidPerTransaction" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_TransactionFeesPaidPerTransaction" xml:lang="en-US">Transaction Fees Paid.</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CommissionsPaid" xlink:label="loc_usl_CommissionsPaid" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CommissionsPaid" xml:lang="en-US">Commissions Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_CommissionsPaid" xml:lang="en-US">Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CommissionsPaid" xlink:to="lab_usl_CommissionsPaid" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CommissionsPaid" xml:lang="en-US">Commissions Paid</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xlink:label="loc_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xml:lang="en-US">Carrying Amounts And Fair Values Of Financial Instruments Or Liabilities [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xlink:to="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Table]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xlink:label="loc_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xml:lang="en-US">Carrying Amounts And Fair Values Of Financial Instruments Or Liabilities [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xlink:to="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DepositsMoneyMarketDeposits" xlink:label="loc_us-gaap_DepositsMoneyMarketDeposits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_DepositsMoneyMarketDeposits" xml:lang="en-US">Deposits Money Market Deposits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_DepositsMoneyMarketDeposits" xml:lang="en-US">Cash investments in money market funds</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsMoneyMarketDeposits" xlink:to="lab_us-gaap_DepositsMoneyMarketDeposits" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_Deposits" xml:lang="en-US">Deposits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_Deposits" xml:lang="en-US">Deposits in domestic and foreign financial institutions</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Deposits" xlink:to="lab_us-gaap_Deposits" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" xlink:label="loc_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" xml:lang="en-US">Average Sales Price And Production Costs Per Unit Of Production [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" xml:lang="en-US">Average Sales Price and Production Costs Per Unit of Production [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" xlink:to="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionTable" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" xlink:label="loc_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" xml:lang="en-US">Average Sales Price And Production Costs Per Unit Of Production [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" xml:lang="en-US">Average Sales Price and Production Costs Per Unit of Production [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" xlink:to="lab_us-gaap_AverageSalesPriceAndProductionCostsPerUnitOfProductionLineItems" />
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xml:lang="en-US">Increase Decrease In Partners Capital [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xml:lang="en-US">Per Share Operating Performance:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" />
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_TotalIncomeLossPerUnit" xlink:label="loc_usl_TotalIncomeLossPerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_TotalIncomeLossPerUnit" xml:lang="en-US">Total Income Loss Per Unit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_TotalIncomeLossPerUnit" xml:lang="en-US">Total income (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_TotalIncomeLossPerUnit" xlink:to="lab_usl_TotalIncomeLossPerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_TotalIncomeLossPerUnit" xml:lang="en-US">Total Income (Loss), Per Unit</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_TotalExpensesPerUnit" xlink:label="loc_usl_TotalExpensesPerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_TotalExpensesPerUnit" xml:lang="en-US">Total Expenses Per Unit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_usl_TotalExpensesPerUnit" xml:lang="en-US">Total expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_TotalExpensesPerUnit" xlink:to="lab_usl_TotalExpensesPerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_TotalExpensesPerUnit" xml:lang="en-US">Total Expenses, Per Unit</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_IncreaseDecreaseInNetAssetValuePerUnit" xlink:label="loc_usl_IncreaseDecreaseInNetAssetValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_IncreaseDecreaseInNetAssetValuePerUnit" xml:lang="en-US">Increase Decrease In Net Asset Value Per Unit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_IncreaseDecreaseInNetAssetValuePerUnit" xml:lang="en-US">Net increase (decrease) in net asset value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_IncreaseDecreaseInNetAssetValuePerUnit" xlink:to="lab_usl_IncreaseDecreaseInNetAssetValuePerUnit" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_IncreaseDecreaseInNetAssetValuePerUnit" xml:lang="en-US">Increase (Decrease) In Net Asset Value Per Unit</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_RateOfReturnOnAverageAsset" xlink:label="loc_usl_RateOfReturnOnAverageAsset" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_RateOfReturnOnAverageAsset" xml:lang="en-US">Rate Of Return On Average Asset</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_RateOfReturnOnAverageAsset" xml:lang="en-US">Total Return</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_RateOfReturnOnAverageAsset" xlink:to="lab_usl_RateOfReturnOnAverageAsset" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_RateOfReturnOnAverageAsset" xml:lang="en-US">Rate Of Return On Average Asset</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_AverageNetAssetsAbstract" xlink:label="loc_usl_AverageNetAssetsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_AverageNetAssetsAbstract" xml:lang="en-US">Average Net Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_AverageNetAssetsAbstract" xml:lang="en-US">Ratios to Average Net Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_AverageNetAssetsAbstract" xlink:to="lab_usl_AverageNetAssetsAbstract" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_AverageNetAssetsAbstract" xml:lang="en-US">Average Net Assets [Abstract]</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PercentageOfTotalRevenue" xlink:label="loc_usl_PercentageOfTotalRevenue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PercentageOfTotalRevenue" xml:lang="en-US">Percentage Of Total Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_PercentageOfTotalRevenue" xml:lang="en-US">Total income (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PercentageOfTotalRevenue" xlink:to="lab_usl_PercentageOfTotalRevenue" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PercentageOfTotalRevenue" xml:lang="en-US">Percentage of Total Revenue</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_ManagementIncentiveFeePercentage" xlink:label="loc_usl_ManagementIncentiveFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_ManagementIncentiveFeePercentage" xml:lang="en-US">Management Incentive Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_ManagementIncentiveFeePercentage" xml:lang="en-US">Management fees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_ManagementIncentiveFeePercentage" xlink:to="lab_usl_ManagementIncentiveFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_ManagementIncentiveFeePercentage" xml:lang="en-US">Management Incentive Fee Percentage</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_ExpensesExcludingManagementFeePercentage" xlink:label="loc_usl_ExpensesExcludingManagementFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_ExpensesExcludingManagementFeePercentage" xml:lang="en-US">Expenses Excluding Management Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_ExpensesExcludingManagementFeePercentage" xml:lang="en-US">Expenses excluding management fees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_ExpensesExcludingManagementFeePercentage" xlink:to="lab_usl_ExpensesExcludingManagementFeePercentage" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_ExpensesExcludingManagementFeePercentage" xml:lang="en-US">Expenses, Excluding Management Fee Percentage</label>
<loc xlink:type="locator" xlink:href="usl-20180630.xsd#usl_PercentageOfConsolidatedNetIncomeLoss" xlink:label="loc_usl_PercentageOfConsolidatedNetIncomeLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_usl_PercentageOfConsolidatedNetIncomeLoss" xml:lang="en-US">Percentage Of Consolidated Net Income Loss</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_usl_PercentageOfConsolidatedNetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_usl_PercentageOfConsolidatedNetIncomeLoss" xlink:to="lab_usl_PercentageOfConsolidatedNetIncomeLoss" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_usl_PercentageOfConsolidatedNetIncomeLoss" xml:lang="en-US">Percentage of Consolidated Net Income (Loss).</label>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:label="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xml:lang="en-US">Schedule Of Trading Securities And Other Trading Assets [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xml:lang="en-US">Schedule of Trading Securities and Other Trading Assets [Table]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_CommodityContractMember" xml:lang="en-US">Commodity Contract [Member]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6772444752">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - shares<br></strong></div></th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dei:filerCategoryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6772837152">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Statements of Financial Condition - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents (at cost $79,031,716 and $83,241,625, respectively) (Notes 2 and 5)</a></td>
<td class="nump">$ 79,031,716<span></span>
</td>
<td class="nump">$ 83,241,625<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract', window );"><strong>Equity in trading accounts:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash and cash equivalents (at cost $4,977,569 and $4,988,459, respectively)</a></td>
<td class="nump">4,977,569<span></span>
</td>
<td class="nump">4,988,459<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Unrealized gain (loss) on open commodity futures contracts</a></td>
<td class="nump">16,534,641<span></span>
</td>
<td class="nump">11,072,567<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsReceivable', window );">Dividends receivable</a></td>
<td class="nump">20,611<span></span>
</td>
<td class="nump">16,769<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Interest receivable</a></td>
<td class="nump">2,291<span></span>
</td>
<td class="nump">2,694<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableRelatedParties', window );">Directors' fees and insurance receivable</a></td>
<td class="nump">2,320<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">100,569,148<span></span>
</td>
<td class="nump">99,322,114<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapitalNotesAbstract', window );"><strong>Liabilities and Partners' Capital</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToCorrespondentBrokers', window );">Payable due to Broker</a></td>
<td class="nump">14,206,502<span></span>
</td>
<td class="nump">7,565,281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent', window );">General Partner management fees payable (Note 3)</a></td>
<td class="nump">40,206<span></span>
</td>
<td class="nump">46,592<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent', window );">Professional fees payable</a></td>
<td class="nump">71,769<span></span>
</td>
<td class="nump">145,177<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations', window );">Brokerage commissions payable</a></td>
<td class="nump">4,862<span></span>
</td>
<td class="nump">7,362<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Directors' fees and insurance payable</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,014<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_LicenseFeesPayableCurrentAndNoncurrent', window );">License fees payable</a></td>
<td class="nump">2,339<span></span>
</td>
<td class="nump">2,786<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">14,325,678<span></span>
</td>
<td class="nump">7,768,212<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and Contingencies&#160;(Notes 3, 4 and 5)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapitalAbstract', window );"><strong>Partners' Capital</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralPartnersCapitalAccount', window );">General Partner</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LimitedPartnersCapitalAccount', window );">Limited Partners</a></td>
<td class="nump">86,243,470<span></span>
</td>
<td class="nump">91,553,902<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapital', window );">Total Partners' Capital</a></td>
<td class="nump">86,243,470<span></span>
</td>
<td class="nump">91,553,902<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and partners' capital</a></td>
<td class="nump">$ 100,569,148<span></span>
</td>
<td class="nump">$ 99,322,114<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding', window );">Limited Partners' shares outstanding</a></td>
<td class="nump">3,400,000<span></span>
</td>
<td class="nump">4,350,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value per share</a></td>
<td class="nump">$ 25.37<span></span>
</td>
<td class="nump">$ 21.05<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_MarketValuePerUnit', window );">Market value per share</a></td>
<td class="nump">$ 25.32<span></span>
</td>
<td class="nump">$ 20.92<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amount of receivables arising from transactions with related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount payable to broker-dealers or clearing organizations for executing or clearing trades or orders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41256-110953<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of dividends declared but not received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToCorrespondentBrokers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount payable to correspondent broker-dealer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToCorrespondentBrokers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04.12(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488278&amp;loc=d3e603758-122996<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToOfficersOrStockholdersCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentsOwnedAtFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralPartnersCapitalAccount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the general partner's ownership interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralPartnersCapitalAccount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LimitedPartnersCapitalAccount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the limited partners' ownership interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70434-108055<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LimitedPartnersCapitalAccount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of limited partner units outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70434-108055<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of the unpaid portion of the fee payable to the managing member or general partner for management of the fund or trust.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of ownership interest of different classes of partners in limited partnership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70478-108055<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70434-108055<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapitalNotesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapitalNotesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_LicenseFeesPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>License fees payable Current and Noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_LicenseFeesPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_MarketValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Market value per unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_MarketValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NetAssetValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net asset value per unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NetAssetValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized gain (loss) on open commodity futures contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_UnrealizedGainLossOnOpenCommodityFuturesContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6778437936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Schedule of Investments<br></strong></div></th>
<th class="th" colspan="2">
<div>Jun. 30, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 16,534,641<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 69,747,929<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">1,252<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 16,534,641<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">19.17%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL August 2018 contracts, expiring July 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,057,822<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">105<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 2,727,928<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.16%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL September 2018 contracts, expiring August 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,216,363<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 2,319,477<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.69%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL October 2018 contracts, expiring September 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,318,326<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 2,057,354<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.39%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL November 2018 contracts, expiring October 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,240,137<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 2,056,503<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.38%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL December 2018 contracts, expiring November 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,736,457<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 1,490,503<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">1.73%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL January 2019 contracts, expiring December 2018 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 5,810,066<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">105<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 1,419,184<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">1.65%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL February 2019 contracts, expiring January 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,100,906<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 988,774<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">1.15%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL March 2019 contracts, expiring February 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,040,493<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 985,747<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">1.14%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL April 2019 contracts, expiring March 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,064,199<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">105<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 972,901<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">1.13%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL May 2019 contracts, expiring April 2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,065,154<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 853,966<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">0.99%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL June 2019 contracts, expiring May 2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,585,826<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">104<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 287,534<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">0.33%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember', window );">Open Futures Contracts, Long | NYMEX WTI Crude Oil Futures CL July 2019 contracts, expiring June 2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtFairValue', window );">Notional Amount</a></td>
<td class="nump">$ 6,512,180<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalanceContracts', window );">Number of Contracts</a></td>
<td class="nump">105<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts', window );">Value/ Unrealized Gain (Loss) on Open Commodity Contracts</a></td>
<td class="nump">$ 374,770<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">0.43%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 83,283,254<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">96.57%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 63,683,254<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">73.84%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.56%, 7/05/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,999,483<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.48%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.56%, 7/12/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,999,053<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.32%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.60%, 7/19/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,998,410<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.32%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.61%, 7/26/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 4,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 3,995,569<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">4.63%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.63%, 8/02/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,995,680<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.47%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.71%, 8/09/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,996,327<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.77%, 8/16/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,993,272<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.47%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.82%, 8/23/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,992,050<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.47%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.82%, 8/30/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,990,975<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.47%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.85%, 9/06/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,993,188<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.90%, 9/13/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,992,251<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.92%, 9/20/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,991,428<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.90%, 9/27/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,990,821<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.87%, 10/04/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,990,210<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.90%, 10/11/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,989,347<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.97%, 10/18/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,988,192<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.31%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.00%, 10/25/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,987,240<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.00%, 11/01/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,986,470<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.03%, 11/08/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,985,519<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.05%, 11/15/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,976,824<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.45%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.07%, 11/23/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,983,486<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 2.05%, 11/29/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 1,983,013<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S.Treasury Bills 2.09%, 12/06/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,972,745<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.45%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S.Treasury Bills 2.06%, 12/13/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,971,950<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.45%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S.Treasury Bills 2.09%, 12/20/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,970,330<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.44%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States Treasury Obligations | U.S.Treasury Bills 2.07%, 12/27/2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 2,969,421<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.44%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States - Money Market Funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 19,600,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">22.73%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States - Money Market Funds | Fidelity Investments Money Market Funds - Government Portfolio [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 8,600,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 8,600,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">9.97%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States - Money Market Funds | Goldman Sachs Financial Square Funds - Government Fund - Class FS [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">3.48%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents | United States - Money Market Funds | Morgan Stanley Institutional Liquidity Funds - Government Portfolio [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedBalancePrincipalAmount', window );">Principal Amount</a></td>
<td class="nump">$ 8,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue', window );">Market Value</a></td>
<td class="nump">$ 8,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfPartnersCapital', window );">% of Partners' Capital</a></td>
<td class="nump">9.28%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Collateral amounted to $4,977,569 on open futures contracts.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-12C.Column C.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611225-123010<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14.Column E.2,3)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611322-123010<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12.Column C.3,4)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611133-123010<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13.Column C.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611282-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedBalanceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Balance held at close of period in number of contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611322-123010<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-12C.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611225-123010<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611133-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedBalanceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedBalancePrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For investments which are quantified by principal amount, the principle balance held at close of period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=99383244&amp;loc=d3e12121-115841<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-12C.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611225-123010<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611322-123010<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12.Column B)<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611133-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedBalancePrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Nominal or face amount on the investment owned.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 20<br> -Section 10<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6438156&amp;loc=d3e57880-113973<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 10<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6431724&amp;loc=d3e32938-113948<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_PercentageOfPartnersCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Partners Capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_PercentageOfPartnersCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_UnrealizedGainLossOnOpenCommodityFuturesContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized gain (loss) on open commodity futures contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_UnrealizedGainLossOnOpenCommodityFuturesContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=usl_OpenFuturesContractsLongMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClAugust2018ContractsExpiringJuly2018Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClSeptember2018ContractsExpiringAugust2018Member</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClOctober2018ContractsExpiringSeptember2018Member</td>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClDecember2017ContractsExpiringNovember2017Member</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClDecember2018ContractsExpiringNovember2018Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClJanuary2019ContractsExpiringDecember2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClJanuary2019ContractsExpiringDecember2018Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClFebruary2019ContractsExpiringJanuary2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClFebruary2019ContractsExpiringJanuary2019Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClMarch2019ContractsExpiringFebruary2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClMarch2019ContractsExpiringFebruary2019Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClApril2019ContractsExpiringMarch2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NymexWtiCrudeOilFuturesClApril2019ContractsExpiringMarch2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLMay2019ContractsExpiringApril2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLJune2019ContractsExpiringMay2019Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_NYMEXWTICrudeOilFuturesCLJuly2019ContractsExpiringJune2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentAxis=us-gaap_CashEquivalentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesClassAxis=us-gaap_USTreasurySecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesClassAxis=us-gaap_USTreasurySecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_USTreasuryBillsSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_USTreasuryBillsSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEightMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEightMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesElevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesElevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwelveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwelveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThirteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThirteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFifteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFifteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSeventeenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSeventeenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEighteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEighteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwentyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6778400992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Schedule of Investments (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CollateralAmountOnOpenFuturesContracts', window );">Collateral Amount On Open Futures Contracts</a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.56%, 7/05/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.56%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">7/05/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.56%, 7/12/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.56%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">7/12/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.60%, 7/19/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">7/19/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.61%, 7/26/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.61%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">7/26/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.63%, 8/02/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.63%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">8/02/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.71%, 8/09/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.71%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">8/09/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.77%, 8/16/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.77%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">8/16/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.82%, 8/23/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.82%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">8/23/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.82%, 8/30/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.82%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">8/30/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.85%, 9/06/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.85%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">9/06/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.90%, 9/13/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">9/13/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.92%, 9/20/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.92%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">9/20/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.90%, 9/27/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">9/27/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.87%, 10/04/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.87%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">10/04/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.90%, 10/11/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">10/11/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 1.97%, 10/18/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">1.97%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">10/18/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.00%, 10/25/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">10/25/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.00%, 11/01/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">11/01/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.03%, 11/08/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.03%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">11/08/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.05%, 11/15/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">11/15/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.07%, 11/23/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">11/23/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S. Treasury Bills 2.05%, 11/29/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">11/29/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S.Treasury Bills 2.09%, 12/06/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.09%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">12/06/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S.Treasury Bills 2.06%, 12/13/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">12/13/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S.Treasury Bills 2.09%, 12/20/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.09%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">12/20/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States | U.S.Treasury Bills 2.07%, 12/27/2018 | US Treasury Securities | Cash Equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates', window );">Expiration date</a></td>
<td class="text">12/27/2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedSubjectToOptionExerciseDates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The list of dates or date range within which the options may be exercised of the investment subject to option.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13.5(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611282-123010<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 320<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=50485924&amp;loc=d3e611322-123010<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedSubjectToOptionExerciseDates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_CollateralAmountOnOpenFuturesContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The collateral amount on open future contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_CollateralAmountOnOpenFuturesContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentGeographicRegionAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentGeographicRegionAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesClassAxis=us-gaap_USTreasurySecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesClassAxis=us-gaap_USTreasurySecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentAxis=us-gaap_CashEquivalentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentAxis=us-gaap_CashEquivalentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesSevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEightMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesEightMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesNineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesElevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesElevenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwelveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesTwelveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThirteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesThirteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFourteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFifteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesSeriesAxis=usl_UsTreasuryBillSecuritiesFifteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6772504272">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Condensed Statements of Operations - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_GainLossOnCommodityFuturesAbstract', window );"><strong>Gain (loss) on trading of commodity futures contracts:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfInvestments', window );">Realized gain (loss) on closed futures contracts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,789,281<span></span>
</td>
<td class="nump">$ 474,575<span></span>
</td>
<td class="nump">$ 10,264,256<span></span>
</td>
<td class="nump">$ 6,619,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInvestments', window );">Change in unrealized gain (loss) on open futures contracts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,598,029<span></span>
</td>
<td class="num">(10,335,615)<span></span>
</td>
<td class="nump">5,462,074<span></span>
</td>
<td class="num">(27,523,684)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendIncomeOperating', window );">Dividend income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60,127<span></span>
</td>
<td class="nump">43,444<span></span>
</td>
<td class="nump">114,237<span></span>
</td>
<td class="nump">86,469<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeOperating', window );">Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">287,399<span></span>
</td>
<td class="nump">144,453<span></span>
</td>
<td class="nump">528,254<span></span>
</td>
<td class="nump">252,931<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncome', window );">ETF transaction fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,050<span></span>
</td>
<td class="nump">2,800<span></span>
</td>
<td class="nump">3,500<span></span>
</td>
<td class="nump">4,550<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total income (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,735,886<span></span>
</td>
<td class="num">(9,670,343)<span></span>
</td>
<td class="nump">16,372,321<span></span>
</td>
<td class="num">(20,560,640)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeeExpense', window );">General Partner management fees (Note 3)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">126,585<span></span>
</td>
<td class="nump">159,419<span></span>
</td>
<td class="nump">253,881<span></span>
</td>
<td class="nump">332,486<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalFees', window );">Professional fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">36,319<span></span>
</td>
<td class="nump">53,800<span></span>
</td>
<td class="nump">74,415<span></span>
</td>
<td class="nump">125,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FloorBrokerageExchangeAndClearanceFees', window );">Brokerage commissions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,645<span></span>
</td>
<td class="nump">4,709<span></span>
</td>
<td class="nump">3,219<span></span>
</td>
<td class="nump">8,841<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseDirectorsFees', window );">Directors' fees and insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,583<span></span>
</td>
<td class="nump">3,468<span></span>
</td>
<td class="nump">6,814<span></span>
</td>
<td class="nump">6,588<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_LicenseFeesAndOtherOfferingExpenses', window );">License fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,165<span></span>
</td>
<td class="nump">3,985<span></span>
</td>
<td class="nump">6,347<span></span>
</td>
<td class="nump">8,312<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">172,297<span></span>
</td>
<td class="nump">225,381<span></span>
</td>
<td class="nump">344,676<span></span>
</td>
<td class="nump">482,027<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 9,563,589<span></span>
</td>
<td class="num">$ (9,895,724)<span></span>
</td>
<td class="nump">$ 16,027,645<span></span>
</td>
<td class="num">$ (21,042,667)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax', window );">Net income (loss) per limited partnership share</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2.72<span></span>
</td>
<td class="num">$ (1.73)<span></span>
</td>
<td class="nump">$ 4.32<span></span>
</td>
<td class="num">$ (3.60)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted', window );">Net income (loss) per weighted average limited partnership share</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2.70<span></span>
</td>
<td class="num">$ (1.63)<span></span>
</td>
<td class="nump">$ 4.28<span></span>
</td>
<td class="num">$ (3.48)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding', window );">Weighted average limited partnership shares outstanding</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,541,758<span></span>
</td>
<td class="nump">6,056,044<span></span>
</td>
<td class="nump">3,746,133<span></span>
</td>
<td class="nump">6,047,790<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Interest income does not exceed paid in kind of 5%.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendIncomeOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating dividend income on securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendIncomeOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FloorBrokerageExchangeAndClearanceFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FloorBrokerageExchangeAndClearanceFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per unit of ownership amount after tax of income (loss) available to limited partnership (LP) unit-holder and units that would have been outstanding assuming the issuance of limited partner units for dilutive potential units outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per unit of ownership amount after tax of income (loss) available to outstanding limited partnership (LP) unit-holder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoninterestExpenseDirectorsFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Noninterest expense related to directors' fees which are fees paid by an Entity to its directors. Directors' fees may be paid in addition to salary and other benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoninterestExpenseDirectorsFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue and income classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.2(a),(b),(c),(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873854&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (k)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873831&amp;loc=SL114874205-224268<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnInvestments</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_GainLossOnCommodityFuturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) On Commodity Futures [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_GainLossOnCommodityFuturesAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_LicenseFeesAndOtherOfferingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represent the value of license fees and other offering expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_LicenseFeesAndOtherOfferingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>duration</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6772442864">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Statement of Changes in Partners' Capital - USD ($)<br></strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>General Partner</div></th>
<th class="th"><div>Limited Partners</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="num">$ (21,042,667)<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, beginning of period at Dec. 31, 2016</a></td>
<td class="nump">$ 20.39<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, end of period at Jun. 30, 2017</a></td>
<td class="nump">$ 16.79<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapital', window );">Beginning Balances at Dec. 31, 2017</a></td>
<td class="nump">$ 91,553,902<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 91,553,902<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapitalAccountRedemptions', window );">Redemption of 950,000 partnership shares</a></td>
<td class="num">(21,338,077)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(21,338,077)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="nump">16,027,645<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">16,027,645<span></span>
</td>
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<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapital', window );">Ending Balances at Jun. 30, 2018</a></td>
<td class="nump">$ 86,243,470<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 86,243,470<span></span>
</td>
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<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, beginning of period at Dec. 31, 2017</a></td>
<td class="nump">$ 21.05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, end of period at Jun. 30, 2018</a></td>
<td class="nump">$ 25.37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of ownership interest of different classes of partners in limited partnership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70478-108055<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 272<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70434-108055<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapitalAccountRedemptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total change in each class of partners' capital accounts during the year due to redemptions and adjustments to redemption value. All partners include general, limited and preferred partners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapitalAccountRedemptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NetAssetValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net asset value per unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NetAssetValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763654672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Statement of Changes in Partners' Capital (Parenthetical)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2018 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PartnersCapitalAccountUnitsRedeemed', window );">Redemption of partnership unit shares</a></td>
<td class="nump">950,000<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PartnersCapitalAccountUnitsRedeemed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units redeemed during the year of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 4.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187171-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PartnersCapitalAccountUnitsRedeemed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6761668400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Statements of Cash Flows - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="nump">$ 16,027,645<span></span>
</td>
<td class="num">$ (21,042,667)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts', window );">Unrealized (gain) loss on open futures contracts</a></td>
<td class="num">(5,462,074)<span></span>
</td>
<td class="nump">27,523,684<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDividendsReceivable', window );">(Increase) decrease in dividends receivable</a></td>
<td class="num">(3,842)<span></span>
</td>
<td class="num">(3,127)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet', window );">(Increase) decrease in interest receivable</a></td>
<td class="nump">403<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties', window );">(Increase) decrease in directors' fees and insurance receivable</a></td>
<td class="num">(2,320)<span></span>
</td>
<td class="num">(2,146)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers', window );">Increase (decrease) in payable due to Broker</a></td>
<td class="nump">6,641,221<span></span>
</td>
<td class="num">(15,112,791)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_IncreaseDecreaseManagementFeesPayable', window );">Increase (decrease) in General Partner management fees payable</a></td>
<td class="num">(6,386)<span></span>
</td>
<td class="num">(11,761)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_IncreaseDecreaseInProfessionalFeesPayable', window );">Increase (decrease) in professional fees payable</a></td>
<td class="num">(73,408)<span></span>
</td>
<td class="num">(31,957)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_IncreaseDecreaseInBrokerageCommissionsPayable', window );">Increase (decrease) in brokerage commissions payable</a></td>
<td class="num">(2,500)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders', window );">Increase (decrease) in directors' fees and insurance payable</a></td>
<td class="num">(1,014)<span></span>
</td>
<td class="num">(1,439)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_IncreaseDecreaseInLicenseFeesPayable', window );">Increase (decrease) in license fees payable</a></td>
<td class="num">(447)<span></span>
</td>
<td class="num">(1,988)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by (used in) operating activities</a></td>
<td class="nump">17,117,278<span></span>
</td>
<td class="num">(8,684,192)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromPartnershipContribution', window );">Addition of partnership shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">22,440,164<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PaymentsToPartnershipRedemption', window );">Redemption of partnership shares</a></td>
<td class="num">(21,338,077)<span></span>
</td>
<td class="num">(13,639,335)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by (used in) financing activities</a></td>
<td class="num">(21,338,077)<span></span>
</td>
<td class="nump">8,800,829<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net Increase (Decrease) in Cash and Cash Equivalents</a></td>
<td class="num">(4,220,799)<span></span>
</td>
<td class="nump">116,637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CashAndCashEquivalentsAndEquityInTradingAccounts', window );">Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period</a></td>
<td class="nump">88,230,084<span></span>
</td>
<td class="nump">124,370,598<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CashAndCashEquivalentsAndEquityInTradingAccounts', window );">Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period</a></td>
<td class="nump">84,009,285<span></span>
</td>
<td class="nump">124,487,235<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract', window );"><strong>Components of Cash and Cash Equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and Cash Equivalents</a></td>
<td class="nump">79,031,716<span></span>
</td>
<td class="nump">98,798,423<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_EquityInTradingAccountsAbstract', window );"><strong>Equity in Trading Accounts:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CashAndCashEquivalentsInEquityInTradingAccounts', window );">Cash and Cash Equivalents</a></td>
<td class="nump">4,977,569<span></span>
</td>
<td class="nump">25,688,812<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CashAndCashEquivalentsInEquityInTradingAccounts', window );">Total Cash, Cash Equivalents and Equity in Trading Accounts</a></td>
<td class="nump">$ 84,009,285<span></span>
</td>
<td class="nump">$ 124,487,235<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due to the reporting entity for good and services provided to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management, an entity and its principal owners, management, member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due from borrowers for interest payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDividendsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in cash disbursements due from investments, representing the shareholders' portion of profits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDividendsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease), during an accounting period, in total obligations owed to the reporting entity's executives and owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations incurred arising from transactions with broker-dealers, such as amounts due on margin and unsettled cash transactions; includes payables to brokers, dealers and clearing organizations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPayablesToBrokerDealers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromPartnershipContribution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the capital received in cash from a partner in a partnership during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromPartnershipContribution</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of open derivatives, commodity, or energy contracts, held at each balance sheet date, that was included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_CashAndCashEquivalentsAndEquityInTradingAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of cash and cash equivalents and equity in trading accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_CashAndCashEquivalentsAndEquityInTradingAccounts</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_CashAndCashEquivalentsInEquityInTradingAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of cash and cash equivalents in equity in trading accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_CashAndCashEquivalentsInEquityInTradingAccounts</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_EquityInTradingAccountsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_IncreaseDecreaseInBrokerageCommissionsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations incurred arising from transactions with broker-dealers, such as amounts due on margin and unsettled cash transactions; includes payables to brokers and dealers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_IncreaseDecreaseInBrokerageCommissionsPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_IncreaseDecreaseInLicenseFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) in License Fees Payable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_IncreaseDecreaseInLicenseFeesPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_IncreaseDecreaseInProfessionalFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Professional Fees Payable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_IncreaseDecreaseInProfessionalFeesPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Management Fees Payable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_IncreaseDecreaseManagementFeesPayable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments To Partnership Redemption</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">usl_PaymentsToPartnershipRedemption</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759814720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ORGANIZATION AND BUSINESS<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">Organization and Business</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 1 &#8212; ORGANIZATION AND BUSINESS</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The United States 12 Month Oil Fund, LP (&#8220;USL&#8221;) was organized as a limited partnership under the laws of the state of Delaware on June 27, 2007. USL is a commodity pool that issues limited partnership shares (&#8220;shares&#8221;) that may be purchased and sold on the NYSE Arca, Inc. (the &#8220;NYSE Arca&#8221;). Prior to November 25, 2008, USL&#8217;s shares traded on the American Stock Exchange (the &#8220;AMEX&#8221;). USL will continue in perpetuity, unless terminated sooner upon the occurrence of one or more events as described in its Third Amended and Restated Agreement of Limited Partnership dated as of December 15, 2017 (the &#8220;LP Agreement&#8221;). The investment objective of USL is for the daily changes in percentage terms of its shares&#8217; per share net asset value (&#8220;NAV&#8221;) to reflect the daily changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the average of the prices of the 12 futures contracts for light, sweet crude oil traded on the New York Mercantile Exchange (the &#8220;NYMEX&#8221;) consisting of the near month contract to expire and the contracts for the following 11 months for a total of 12 consecutive months&#8217; contracts, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire and the contracts for the following 11 consecutive months (the &#8220;Benchmark Oil Futures Contracts&#8221;), less USL&#8217;s expenses. When calculating the daily movement of the average price of the 12 contracts, each contract month will be equally weighted.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL&#8217;s investment objective is <div style="font-style:italic;display:inline;">not</div> for its NAV or market price of shares to equal, in dollar terms, the spot price of light, sweet crude oil or any particular futures contract based on light, sweet crude oil, <div style="font-style:italic;display:inline;">nor</div> is USL&#8217;s investment objective for the percentage change in its NAV to reflect the percentage change of the price of any particular futures contract as measured over a time period <div style="font-style:italic;display:inline;">greater than one day</div>.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">United States Commodity Funds LLC (&#8220;USCF&#8221;), the general partner of USL, believes that it is not practical to manage the portfolio to achieve such an investment goal when investing in Oil Futures Contracts (as defined below) and Other Oil-Related Investments (as defined below). USL accomplishes its objective through investments in futures contracts for light, sweet crude oil and other types of crude oil, diesel-heating oil, gasoline, natural gas and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other U.S. and foreign exchanges (collectively, &#8220;Oil Futures Contracts&#8221;) and other oil-related investments such as cash-settled options on Oil Futures Contracts, forward contracts for oil, cleared swap contracts and over-the-counter (&#8220;OTC&#8221;) transactions that are based on the price of crude oil, diesel-heating oil, gasoline, natural gas and other petroleum-based fuels, Oil Futures Contracts and indices based on the foregoing (collectively, &#8220;Other Oil-Related Investments&#8221;). 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USCF is responsible for the management of USL. USCF is a member of the National Futures Association (the &#8220;NFA&#8221;) and became registered as a commodity pool operator with the Commodity Futures Trading Commission (the &#8220;CFTC&#8221;) effective December 1, 2005 and a swaps firm on August 8, 2013. USCF is also the general partner of the United States Oil Fund, LP (&#8220;USO&#8221;), the United States Natural Gas Fund, LP (&#8220;UNG&#8221;), the United States Gasoline Fund, LP (&#8220;UGA&#8221;) and the United States Diesel-Heating Oil Fund, LP (&#8220;UHN&#8221;), which listed their limited partnership shares on the AMEX under the ticker symbols &#8220;USO&#8221; on April 10, 2006, &#8220;UNG&#8221; on April 18, 2007, &#8220;UGA&#8221; on February 26, 2008 and &#8220;UHN&#8221; on April 9, 2008, respectively. As a result of the acquisition of the AMEX by NYSE Euronext, each of USO&#8217;s, UNG&#8217;s, UGA&#8217;s and UHN&#8217;s shares commenced trading on the NYSE Arca on November 25, 2008. USCF is also the general partner of the United States Short Oil Fund, LP (&#8220;DNO&#8221;), the United States 12 Month Natural Gas Fund, LP (&#8220;UNL&#8221;) and the United States Brent Oil Fund, LP (&#8220;BNO&#8221;), which listed their limited partnership shares on the NYSE Arca under the ticker symbols &#8220;DNO&#8221; on September 24, 2009, &#8220;UNL&#8221; on November 18, 2009 and &#8220;BNO&#8221; on June 2, 2010, respectively. USCF is also the sponsor of the United States Commodity Index Fund (&#8220;USCI&#8221;), the United States Copper Index Fund (&#8220;CPER&#8221;), the United States Agriculture Index Fund (&#8220;USAG&#8221;) and the USCF Canadian Crude Oil Index Fund (&#8220;UCCO&#8221;), each a series of the United States Commodity Index Funds Trust. USCI, CPER and USAG listed their shares on the NYSE Arca under the ticker symbols &#8220;USCI&#8221; on August 10, 2010, &#8220;CPER&#8221; on November 15, 2011 and &#8220;USAG&#8221; on April 13, 2012, respectively. UCCO is currently in registration and has not commenced operations.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In addition, USCF is the sponsor of the USCF Funds Trust, a Delaware statutory trust, and each of its series, the United States 3x Oil Fund (&#8220;USOU&#8221;) and the United States 3x Short Oil Fund (&#8220;USOD&#8221;), which commenced operations on July 20, 2017. Two separate series of the USCF Funds Trust, the REX S&amp;P MLP Fund (&#8220;RMLP&#8221;) and the REX S&amp;P MLP Inverse Fund (&#8220;MLPD&#8221; and together with RMLP, the &#8220;REX Funds&#8221;), which were in registration and had not commenced operations, filed to withdraw from registration on March 30, 2018.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">All funds listed previously, other than UCCO and the REX Funds, are referred to collectively herein as the &#8220;Related Public Funds.&#8221;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL issues shares to certain authorized purchasers (&#8220;Authorized Participants&#8221;) by offering baskets consisting of 50,000 shares (&#8220;Creation Baskets&#8221;) through ALPS Distributors, Inc., as the marketing agent (the &#8220;Marketing Agent&#8221;). The purchase price for a Creation Basket is based upon the NAV of a share calculated shortly after the close of the core trading session on the NYSE Arca on the day the order to create the basket is properly received.</div></div><div>&#160;</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In addition, Authorized Participants pay USL a $350 fee for each order placed to create one or more Creation Baskets or to redeem one or more baskets (&#8220;Redemption Baskets&#8221;), consisting of 50,000 shares. Shares may be purchased or sold on a nationally recognized securities exchange in smaller increments than a Creation Basket or Redemption Basket. Shares purchased or sold on a nationally recognized securities exchange are not purchased or sold at the per share NAV of USL but rather at market prices quoted on such exchange.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On December 4, 2007, USL initially registered 11,000,000 shares on Form S-1 with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). On December 6, 2007, USL listed its shares on the AMEX under the ticker symbol &#8220;USL&#8221; and switched to trading on the NYSE Arca under the same ticker symbol on November 25, 2008. On that day, USL established its initial per share NAV by setting the price at $50.00 and issued 300,000 shares in exchange for $15,000,000. USL also commenced investment operations on December 6, 2007, by purchasing Oil Futures Contracts traded on the NYMEX based on light, sweet crude oil. As of June 30, 2018, USL had registered a total of 111,000,000 shares.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the SEC and, therefore, do not include all information and footnote disclosure required under generally accepted accounting principles in the United States of America (&#8220;U.S. GAAP&#8221;). The financial information included herein is unaudited; however, such financial information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of USCF, necessary for the fair presentation of the condensed financial statements for the interim period.</div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 2 &#8212; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Basis of Presentation</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The financial statements have been prepared in conformity with U.S. GAAP as detailed in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification.&#160;USL is an investment company and follows the accounting and reporting guidance in FASB Topic 946.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Revenue Recognition</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the&#160;condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. 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USL&#160;files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states.&#160;USL is not&#160;subject to income tax return examinations by major taxing authorities for years before 2014. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in&#160;USL recording a tax liability that reduces net assets. However, USL's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof.&#160;USL recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. 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The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. 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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763730608">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock', window );">Fees Paid by the Fund and Related Party Transactions</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 3 &#8212; FEES PAID BY THE FUND&#160;AND RELATED PARTY TRANSACTIONS</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">USCF Management Fee</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Under the&#160;LP Agreement, USCF is responsible for investing the assets of&#160;USL in accordance with the objectives and policies of USL. In addition, USCF has arranged for one or more third parties to provide administrative, custody, accounting, transfer agency and other necessary services to USL. For these services,&#160;USL is&#160;contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60%&#160;per annum of average daily total net assets.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Ongoing Registration Fees and Other Offering Expenses</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL pays all costs and expenses associated with the ongoing registration of its shares subsequent to the initial offering. These costs include registration or other fees paid to regulatory agencies in connection with the offer and sale of shares, and all legal, accounting, printing and other expenses associated with such offer and sale. For the six months ended June 30, 2018 and 2017, USL did not incur registration fees and other offering expenses.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Independent Directors&#8217; and Officers&#8217; Expenses</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL is responsible for paying its portion of the directors&#8217; and officers&#8217; liability insurance for USL and the Related Public Funds and the fees and expenses of the independent directors who also serve as audit committee members of USL and the Related Public Funds.&#160;USL shares the fees and expenses on a pro rata basis with each Related Public Fund, as described above, based on the relative assets of each Related Public Fund computed on a daily basis. These fees and expenses for the year&#160;ending December 31, 2018&#160;are estimated to be a total of $14,500&#160;for&#160;USL and, in the aggregate for USL and the Related Public Funds, $536,200.&#160;&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Licensing&#160;Fees</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">As discussed in Note 4 below, USL entered into a licensing agreement with the NYMEX on April 10, 2006, as amended on October 20, 2011. Pursuant to the agreement, USL and the Related Public Funds, other than BNO, USCI, CPER, USAG, USOU and USOD, pay a licensing fee that is equal to 0.015% on all net assets. During the six months ended June 30, 2018 and 2017, USL incurred $6,347 and $8,312, respectively, under this arrangement.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Investor Tax Reporting Cost</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The fees and expenses associated with USL's audit expenses and tax accounting and reporting requirements are paid by USL. These costs are estimated to be $150,000 for the year ending December 31, 2018. Tax reporting costs fluctuate between years due to the number of shareholders during any given year.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Other Expenses and Fees&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In addition to the fees described above, USL pays all brokerage fees and other expenses in connection with the operation of USL, excluding costs and expenses paid by USCF as outlined in <div style="font-style:italic;display:inline;">Note&#160;4 &#8211; Contracts and Agreements</div> below.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759664448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONTRACTS AND AGREEMENTS<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermContractsOrProgramsDisclosureTextBlock', window );">Contracts and Agreements</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE&#160;4 &#8212; CONTRACTS AND AGREEMENTS</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Marketing Agent Agreement</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL is party to a marketing agent agreement, dated as of November 13, 2007, as amended from time to time, with the Marketing Agent and USCF, whereby the Marketing Agent provides certain marketing services for USL as outlined in the agreement. The fee of the Marketing Agent, which is borne by USCF, is equal to 0.06% on USL's assets up to $3 billion and 0.04% on USL's assets in excess of $3 billion. In no event may the aggregate compensation paid to the Marketing Agent and any affiliate of&#160;USCF for distribution-related services exceed 10% of the gross proceeds of&#160;USL's offering.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The above fee does not include website construction and development, which are also&#160;borne by USCF.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;">&#160;</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Brown Brothers Harriman &amp; Co. Agreements</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL is&#160;also party to a&#160;custodian agreement, dated October 5, 2007, as amended from time to time, with Brown Brothers Harriman &amp; Co. (&#8220;BBH&amp;Co.&#8221;) and USCF, whereby BBH&amp;Co. holds investments on behalf of USL.&#160;USCF pays the fees of the custodian, which are determined by the parties from time to time. In addition,&#160;USL is party to an administrative agency agreement, dated October 5, 2007, as amended from time to time, with USCF and BBH&amp;Co., whereby BBH&amp;Co. acts as the administrative agent, transfer agent and registrar for USL.&#160;USCF also pays the fees of BBH&amp;Co. for its services under such agreement and such fees are determined by the parties from time to time.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Currently,&#160;USCF pays BBH&amp;Co. for its services, in the foregoing capacities, a minimum amount of $75,000 annually for its custody, fund accounting and fund administration services rendered to USL and each of the Related Public Funds, as well as a $20,000 annual fee for its transfer agency services. In addition,&#160;USCF pays BBH&amp;Co. an asset-based charge of (a) 0.06% for the first $500 million of the Related Public Funds&#8217; combined net assets, (b) 0.0465% for the Related Public Funds&#8217; combined net assets greater than $500 million but less than $1 billion, and (c) 0.035% once the Related Public Funds&#8217; combined net assets exceed $1 billion. The annual minimum amount will not apply if the asset-based charge for all accounts in the aggregate exceeds $75,000.&#160;USCF also pays BBH&amp;Co. transaction fees ranging from $7 to $15 per transaction.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Brokerage and Futures Commission Merchant Agreements</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">On October 8, 2013, USL entered into a brokerage agreement with RBC Capital Markets, LLC (&#8220;RBC Capital&#8221; or &#8220;RBC&#8221;) to serve as USL's FCM effective October 10, 2013.&#160;The agreement with RBC requires it to provide services to USL in connection with the purchase and sale of&#160;Oil Futures Contracts and Other Oil-Related Investments that may be purchased and sold by or through&#160;RBC Capital for USL's account. In accordance with the agreement,&#160;RBC Capital charges&#160;USL commissions of approximately $7 to $8 per round-turn trade, including applicable exchange, clearing&#160;and NFA fees for&#160;Oil Futures Contracts and options on Oil Futures Contracts. Such fees include those incurred when purchasing&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts when USL issues shares as a result of a Creation Basket, as well as fees incurred when selling&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts when USL redeems shares as a result of a Redemption Basket. Such fees are also incurred when&#160;Oil Futures Contracts and options on&#160;Oil Futures Contracts are purchased or redeemed for the purpose of rebalancing the portfolio. 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 (&#8220;Treasuries&#8221;).</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; 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font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 64.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Total commissions accrued to brokers</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.01%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.02%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commissions accrued as a result of rebalancing</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Percentage of commissions accrued as a result of rebalancing</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">75.77%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">80.01%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commissions accrued as a result of creation and redemption activity</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">780 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">1,767 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Percentage of commissions accrued as a result of creation and redemption activity</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">24.23%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term contracts or programs.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763693840">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract', window );"><strong>Financial Instruments Off Balance Sheet Risks And Contingencies [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsDisclosureTextBlock', window );">Financial Instruments, Off-Balance Sheet Risks and Contingencies</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE&#160;5 &#8212; FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL&#160;may engage in the trading of futures contracts, options on futures contracts, cleared swaps and OTC swaps (collectively, &#8220;derivatives&#8221;). USL is exposed to both market risk, which is the risk arising from changes in the market value of the contracts, and credit risk, which is the risk of failure by another party to perform according to the terms of a contract.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL may enter into futures contracts, options on futures contracts and cleared swaps to gain exposure to changes in the value of an underlying commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of a commodity at a specified time and place. Some futures contracts may call for physical delivery of the asset, while others are settled in cash. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery. Cleared swaps are agreements that are eligible to be cleared by a clearinghouse, e.g., ICE Clear Europe, and provide the efficiencies and benefits that centralized clearing on an exchange offers to traders of futures contracts, including credit risk intermediation and the ability to offset positions initiated with different counterparties.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The purchase and sale of futures contracts, options on futures contracts and cleared swaps require margin deposits with an FCM. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM&#8217;s proprietary activities.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Futures contracts, options on futures contracts and cleared swaps involve, to varying degrees, elements of market risk (specifically commodity price risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure&#160;USL has in the particular classes of instruments. Additional risks associated with the use of futures contracts are an imperfect correlation between movements in the price of the futures contracts and the market value of the underlying securities and the possibility of an illiquid market for a futures contract. Buying and selling options on futures contracts exposes investors to the risks of purchasing or selling futures contracts.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">All of the futures contracts held by USL through June 30, 2018 were exchange-traded. The risks associated with exchange-traded contracts are generally perceived to be less than those associated with OTC swaps since, in OTC swaps, a party must rely solely on the credit of its respective individual counterparties. However, in the future, if USL were to enter into non-exchange traded contracts, it would be subject to the credit risk associated with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net unrealized gain, if any, on the transaction. USL has credit risk under its futures contracts since the sole counterparty to all domestic and foreign futures contracts is the clearinghouse for the exchange on which the relevant contracts are traded. In addition, USL bears the risk of financial failure by the clearing broker.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL's&#160;cash and other property, such as Treasuries, deposited with an FCM are considered commingled with all other customer funds, subject to the FCM&#8217;s segregation requirements. In the event of an FCM&#8217;s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The insolvency of an FCM could result in the complete loss of&#160;USL's assets posted with that FCM; however, the majority of USL's assets are held in investments in Treasuries,&#160;cash and/or cash equivalents with&#160;USL's custodian and would not be impacted by the insolvency of an FCM. The failure or insolvency of&#160;USL's custodian, however, could result in a substantial loss of&#160;USL's assets.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USCF invests a portion of&#160;USL's cash in money market funds that seek to maintain a stable per share NAV. USL is&#160;exposed to any risk of loss associated with an investment in such money market funds. As of June 30, 2018 and December 31, 2017, USL held investments in money market funds in the amounts of $19,600,000 and $19,000,000, respectively.&#160;USL&#160;also&#160;holds cash deposits with its custodian. Pursuant to a written agreement with BBH&amp;Co., uninvested overnight cash balances are swept to offshore branches of U.S. regulated and domiciled banks located in Toronto, Canada; London, United Kingdom; Grand Cayman, Cayman Islands; and Nassau, Bahamas; which are subject to U.S. regulation and regulatory oversight. As of June 30, 2018 and December 31, 2017, USL held cash deposits and investments in Treasuries in the amounts of $64,409,285 and $69,230,084, respectively, with the custodian and FCM. Some or all of these amounts may be subject to loss should&#160;USL's custodian and/or FCM cease operations.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For derivatives, risks arise from changes in the market value of the contracts. Theoretically, USL is exposed to market risk equal to the value of&#160;futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and a seller of options, USL pays or receives a premium at the outset and then&#160;bears the risk of unfavorable changes in the price of the contract underlying the option.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL's&#160;policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial, position and credit exposure reporting controls and procedures. In addition, USL has a policy of requiring review of the credit standing of each broker or counterparty with which&#160;it conducts business.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The financial instruments held by USL are reported in its condensed statements of financial condition at market or fair value, or at carrying amounts that approximate fair value, because of their highly liquid nature and short-term maturity.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6600678224">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL HIGHLIGHTS<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalFinancialInformationDisclosureTextBlock', window );">Financial Highlights</a></td>
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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Total expenses</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">)</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">)</div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-indent: 0.25in; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Net increase (decrease) in net asset value</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">16.79 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Total income (loss)</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">19.19 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">(18.40 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">)%</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Management fees*</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.60 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.60 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Expenses excluding management fees*</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.21 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.27 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss)</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">18.78 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">(18.83 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">)%</div></div></td></tr></table></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 2.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">*</div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 98.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Annualized.</div></div></td></tr></table></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Total returns are calculated based on the change in value during the period. An individual shareholder&#8217;s total return and ratio may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from USL.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763674256">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value of Financial Instruments</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE&#160;7 &#8212; FAIR VALUE OF FINANCIAL INSTRUMENTS</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL values its investments in accordance with Accounting Standards Codification 820 &#8211; Fair Value Measurements and Disclosures (&#8220;ASC 820&#8221;). ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of&#160;USL (observable inputs) and (2)&#160;USL's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820 hierarchy are as follows:</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Level I &#8211; Quoted prices (unadjusted) in active markets for <div style="font-style:italic;display:inline;">identical </div>assets or liabilities that the reporting entity has the ability to access at the measurement date.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Level II &#8211; Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for <div style="font-style:italic;display:inline;">similar </div>assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs).</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Level III &#8211; Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety.</div></div><div>&#160;</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The following table summarizes the valuation of USL&#8217;s securities at June 30, 2018 using the fair value hierarchy:</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -URI http://asc.fasb.org/topic&amp;trid=2155941<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763652464">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUBSEQUENT EVENTS<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">NOTE 8 &#8212; SUBSEQUENT EVENTS</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL has performed an evaluation of subsequent events through the date the condensed financial statements were issued. This evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments&#160;</div>other than as disclosed below:</div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;">&#160;</div><div style="color: rgb(0, 0, 0); font: 10pt &quot;times new roman&quot;, times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; text-align: justify;">On August 7, 2018, the Board of Directors of USCF authorized and approved the closing and liquidation each of USAG, DNO and UHN together with a plan of liquidation for each of USAG, DNO and UHN. Each of the United States Commodity Index Funds Trust, of which USAG is a series, DNO and UHN filed a current report on Form 8-K dated August 8, 2018 with the SEC that included, as an exhibit, the press release, the applicable plan of liquidation, and, in the case of DNO and UHN, a copy of the notice regarding the liquidation sent to shareholders. In addition, each of USAG, DNO and UHN filed a prospectus supplement with the SEC dated August 8, 2018. &#160;Each of the filings are also available on USCF&#8217;s website at www.uscfinvestments.com.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762615152">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Basis of Presentation</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Basis of Presentation</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The financial statements have been prepared in conformity with U.S. GAAP as detailed in the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) Accounting Standards Codification.&#160;USL is an investment company and follows the accounting and reporting guidance in FASB Topic 946.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Revenue Recognition</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the&#160;condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations.&#160;USL earns income on funds held at the custodian or futures commission merchant (&#8220;FCM&#8221;) at prevailing market rates earned on such investments.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommissionsPolicy', window );">Brokerage Commissions</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Brokerage Commissions</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Income Taxes</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL is&#160;not subject to federal income taxes; each&#160;partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In accordance with U.S. GAAP, USL is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. USL&#160;files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states.&#160;USL is not&#160;subject to income tax return examinations by major taxing authorities for years before 2014. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in&#160;USL recording a tax liability that reduces net assets. However, USL's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof.&#160;USL recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the&#160;period ended June 30, 2018.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock', window );">Creations and Redemptions</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Creations and Redemptions</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Authorized Participants&#160;may purchase Creation Baskets or redeem Redemption Baskets only in blocks of&#160;50,000 shares at a price equal to the NAV of the shares calculated shortly after the close of the core trading session on the NYSE Arca on the day the order is placed.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL receives or pays&#160;the proceeds from shares sold or redeemed within two business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in USL's condensed statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Authorized Participants pay USL a transaction fee of $350 for each order placed to create one or more Creation Baskets or to redeem one or more Redemption Baskets.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription', window );">Partnership Capital and Allocation of Partnership Income and Losses</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Partnership Capital and Allocation of Partnership Income and Losses</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Profit or loss shall be allocated among the partners of USL in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePolicyTextBlock', window );">Calculation of Per Share NAV</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Calculation of Per Share NAV</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">USL's per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. USL uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Net Income (Loss) Per Share</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net Income (Loss) Per Share</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period.&#160;There were no shares held by USCF at June 30, 2018.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_OtherOperatingIncomeExpensePolicyTextBlock', window );">Offering Costs</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Offering Costs</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Offering costs incurred in connection with the registration of additional shares after the initial registration of shares&#160;are borne by USL. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings.&#160;These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash Equivalents</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Cash Equivalents</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustmentDescription', window );">Reclassification</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Reclassification</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Certain amounts in the accompanying condensed financial statements were&#160;reclassified to conform to the current presentation.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of condensed financial statements in conformity with U.S. GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">New Accounting Pronouncements</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">New Accounting Pronouncements</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">In November 2016, the FASB issued Accounting Standards Update No. 2016-18, &#8220;Statement of Cash Flows (Topic 230): Restricted Cash&#8221; (&#8220;ASU 2016-18&#8221;), which amends ASC 230 to provide guidance on the classification and presentation of changes in restricted cash and restricted cash equivalents on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. At this time, management has evaluated the implications of these changes on the financial statements and adopted with no material impact.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).  Accounting policies describe all significant accounting policies of the reporting entity.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fees earned by the broker dealer, acting as an agent in the buying and selling of securities and administrative efforts on behalf of customers and may include the timing of commission revenue recognition and presentation in the financial statements. Commissions earned are usually related to the broker dealer's customers' trading volume and the dollar amounts of the trades.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for an incentive policy and the associated accounting for a plan in a limited liability corporation or limited partnership that includes the payment of cash or stock or units to the managing member or general partner.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32247-109318<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32280-109318<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763730064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONTRACTS AND AGREEMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;">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 (&#8220;Treasuries&#8221;).</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 15.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">8,841 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Total commissions as annualized percentage of average total net assets</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.01%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">0.02%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commissions accrued as a result of rebalancing</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">2,439 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">7,074 </div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Percentage of commissions accrued as a result of rebalancing</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">75.77%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">80.01%</div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;">&#160;</div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Commissions accrued as a result of creation and redemption activity</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6661170096">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL HIGHLIGHTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock', window );">Per Unit Performance Data and Other Supplemental Financial Data</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The following table presents per share performance data and other supplemental financial data for the six months ended June 30, 2018 and 2017 for the shareholders. 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #ffffff;border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">(0.08 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">$</div></div></td><td style="background: #ffffff;border-bottom: double #000000 2.5pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">16.79 </div></div></td><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; text-align: right; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></td></tr><tr><td style="background: #ffffff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">%</div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Expenses excluding management fees*</div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 2.5pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">)%</div></div></td></tr></table></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 2.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759712784">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementInputsDisclosureTextBlock', window );">Valuation of Securities Using Fair Value Hierarchy</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The following table summarizes the valuation of USL&#8217;s securities at June 30, 2018 using the fair value hierarchy:</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">At June 30, 2018</div></div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td><td colspan="2" style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock', window );">Fair Value of Derivative Instruments</a></td>
<td class="text"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Fair Value of Derivative Instruments</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: solid #000000 1.0pt;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Derivatives not</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#8206;</div><div style="font-weight:bold;display:inline;">Accounted for</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#8206;</div><div style="font-weight:bold;display:inline;">as Hedging</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#8206;</div><div style="font-weight:bold;display:inline;">Instruments</div></div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 1.0pt;padding-left: 0;padding-right: 0;padding-top: 0;vertical-align: bottom;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div></td></tr><tr><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 55.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Futures - Commodity Contracts</div></div></div></td><td style="background: #cceeff;border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 1.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; 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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock', window );">Effect of Derivative Instruments on the Statements of Operations</a></td>
<td class="text"><div style="text-align:left;"><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: bottom;width: 100.0%;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">The Effect of Derivative Instruments on the Condensed Statements of Operations</div></div></div></td></tr></table></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; background: none;"><div style="white-space: pre-wrap; font-family: &quot;times new roman&quot;, times, serif; 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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ORGANIZATION AND BUSINESS (Additional Information) (Details)<br></strong></div></th>
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<div>Dec. 06, 2007 </div>
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</th>
<th class="th">
<div>Jun. 30, 2018 </div>
<div>$ / shares </div>
<div>$ / Units</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>$ / shares</div>
</th>
<th class="th"><div>Dec. 04, 2007</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems', window );"><strong>Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeePaidPerOrder', window );">Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value per share | $ / shares</a></td>
<td class="nump">$ 50.00<span></span>
</td>
<td class="nump">$ 25.37<span></span>
</td>
<td class="nump">$ 21.05<span></span>
</td>
<td class="nump">$ 16.79<span></span>
</td>
<td class="nump">$ 20.39<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnitsIssuedDuringPeriodUnitsNewIssues', window );">Number of shares issued | shares</a></td>
<td class="nump">300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_UnitsIssuedDuringPeriodValueNewIssues', window );">Value of shares issued | $</a></td>
<td class="nump">$ 15,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NumberOfRegisteredUnits', window );">Number of registered shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember', window );">Creation Baskets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems', window );"><strong>Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NumberOfUnitsPerBasket', window );">Number of shares per basket</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_FeePaidPerOrder">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee Paid Per Order</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_FeePaidPerOrder</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:perUnitItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NetAssetValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net asset value per unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NetAssetValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NumberOfRegisteredUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of Registered Units</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NumberOfRegisteredUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NumberOfUnitsPerBasket">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of Units per Basket</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NumberOfUnitsPerBasket</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:perUnitItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_UnitsIssuedDuringPeriodUnitsNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Units Issued During Period, Units, New Issues</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_UnitsIssuedDuringPeriodUnitsNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_UnitsIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Units Issued During Period, Value, New Issues</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_UnitsIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
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<TYPE>XML
<SEQUENCE>37
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762813568">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Additional Information) (Details)<br></strong></div></th>
<th class="th">
<div>Jun. 30, 2018 </div>
<div>$ / Units</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_SignificantAccountingPoliciesLineItems', window );"><strong>Significant Accounting Policies [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeePaidPerOrder', window );">Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets</a></td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember', window );">Creation Baskets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_SignificantAccountingPoliciesLineItems', window );"><strong>Significant Accounting Policies [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NumberOfSharesPerBasket', window );">Number of Shares per basket</a></td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PeriodAxis=us-gaap_ScenarioForecastMember', window );">Prior to July 1, 2011</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_SignificantAccountingPoliciesLineItems', window );"><strong>Significant Accounting Policies [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeePaidPerOrder', window );">Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets</a></td>
<td class="nump">350<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_FeePaidPerOrder">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee Paid Per Order</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_FeePaidPerOrder</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:perUnitItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NumberOfSharesPerBasket">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of Shares per Basket.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NumberOfSharesPerBasket</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:perUnitItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_SignificantAccountingPoliciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant Accounting Policies [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_SignificantAccountingPoliciesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentSecuritiesClassAxis=usl_CreationBasketsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_PeriodAxis=us-gaap_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_PeriodAxis=us-gaap_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762061888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS (Additional Information) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeesPaidAndRelatedPartyTransactionsLineItems', window );"><strong>Fees Paid and Related Party Transactions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeeDescription', window );">USCF Management Fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">USL is&#160;contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60%&#160;per annum of average daily total net assets.<table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_LicenseFeesAndOtherOfferingExpenses', window );">Licensing fee incurred</a></td>
<td class="nump">$ 3,165<span></span>
</td>
<td class="nump">$ 3,985<span></span>
</td>
<td class="nump">$ 6,347<span></span>
</td>
<td class="nump">$ 8,312<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseDirectorsFees', window );">Estimated directors' fees and expenses</a></td>
<td class="nump">$ 3,583<span></span>
</td>
<td class="nump">$ 3,468<span></span>
</td>
<td class="nump">$ 6,814<span></span>
</td>
<td class="nump">$ 6,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember', window );">Scenario, Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeesPaidAndRelatedPartyTransactionsLineItems', window );"><strong>Fees Paid and Related Party Transactions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherGeneralExpense', window );">Estimated investor tax reporting cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseDirectorsFees', window );">Estimated directors' fees and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_FundTrustsMember', window );">USL and the Related Public Funds, other than USCI, USAG, CPER and USMI | Scenario, Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeesPaidAndRelatedPartyTransactionsLineItems', window );"><strong>Fees Paid and Related Party Transactions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseDirectorsFees', window );">Estimated directors' fees and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 536,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupThreeMember', window );">On and after October 20, 2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_FeesPaidAndRelatedPartyTransactionsLineItems', window );"><strong>Fees Paid and Related Party Transactions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.015%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeeDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the nature of payments to managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP), including the fee rate, basis of calculation, relevant accounting period, whether the fee is paid to an entity other than the managing member or general partner, or whether the fee is waived.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeeDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoninterestExpenseDirectorsFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Noninterest expense related to directors' fees which are fees paid by an Entity to its directors. Directors' fees may be paid in addition to salary and other benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoninterestExpenseDirectorsFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherGeneralExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of general expenses not normally included in Other Operating Costs and Expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherGeneralExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_BaseFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Base Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_BaseFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_FeesPaidAndRelatedPartyTransactionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fees Paid and Related Party Transactions [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_FeesPaidAndRelatedPartyTransactionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_LicenseFeesAndOtherOfferingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represent the value of license fees and other offering expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_LicenseFeesAndOtherOfferingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_FundTrustsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_FundTrustsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759957152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONTRACTS AND AGREEMENTS (Brokerage Commissions) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long Duration Contracts Assumptions By Product And Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FloorBrokerageExchangeAndClearanceFees', window );">Brokerage commissions</a></td>
<td class="nump">$ 2,645<span></span>
</td>
<td class="nump">$ 4,709<span></span>
</td>
<td class="nump">$ 3,219<span></span>
</td>
<td class="nump">$ 8,841<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfAverageDailyNetAssets', window );">Brokerage commissions as a percentage of average daily net assets</a></td>
<td class="nump">0.01%<span></span>
</td>
<td class="nump">0.02%<span></span>
</td>
<td class="nump">0.01%<span></span>
</td>
<td class="nump">0.02%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=usl_RebalancingInvestmentsTransactionMember', window );">Rebalancing Investments Transaction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long Duration Contracts Assumptions By Product And Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FloorBrokerageExchangeAndClearanceFees', window );">Brokerage commissions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,439<span></span>
</td>
<td class="nump">$ 7,074<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfAverageDailyNetAssets', window );">Brokerage commissions as a percentage of average daily net assets</a></td>
<td class="nump">75.77%<span></span>
</td>
<td class="nump">80.01%<span></span>
</td>
<td class="nump">75.77%<span></span>
</td>
<td class="nump">80.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=usl_TradesNecessitatedByCreationAndRedemptionActivityMember', window );">Trades Necessitated By Creation And Redemption Activity [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long Duration Contracts Assumptions By Product And Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FloorBrokerageExchangeAndClearanceFees', window );">Brokerage commissions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 780<span></span>
</td>
<td class="nump">$ 1,767<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfAverageDailyNetAssets', window );">Brokerage commissions as a percentage of average daily net assets</a></td>
<td class="nump">24.23%<span></span>
</td>
<td class="nump">19.99%<span></span>
</td>
<td class="nump">24.23%<span></span>
</td>
<td class="nump">19.99%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FloorBrokerageExchangeAndClearanceFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FloorBrokerageExchangeAndClearanceFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_PercentageOfAverageDailyNetAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Average Daily Net Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_PercentageOfAverageDailyNetAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=usl_RebalancingInvestmentsTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=usl_RebalancingInvestmentsTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=usl_TradesNecessitatedByCreationAndRedemptionActivityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=usl_TradesNecessitatedByCreationAndRedemptionActivityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6775774704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONTRACTS AND AGREEMENTS (Additional Information) (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2018 </div>
<div>USD ($) </div>
<div>$ / round-turn</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees', window );">Annual Fee for transfer agency services</a></td>
<td class="nump">$ 20,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees', window );">Annual Fee for transfer agency services</a></td>
<td class="nump">75,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_TransactionFeesPaidPerTransaction', window );">Transaction fees per transaction</a></td>
<td class="nump">$ 15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CommissionsPaid', window );">Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts | $ / round-turn</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees', window );">Annual Fee for transfer agency services</a></td>
<td class="nump">$ 75,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_TransactionFeesPaidPerTransaction', window );">Transaction fees per transaction</a></td>
<td class="nump">$ 7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CommissionsPaid', window );">Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts | $ / round-turn</a></td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSixMember', window );">First $500 million of USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">0.06%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 500,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSevenMember', window );">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">0.0465%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSevenMember', window );">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 1,000,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSevenMember', window );">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 500,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupEightMember', window );">USL's, USOF's, USNG's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets exceed $1 billion</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">0.035%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 1,000,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember', window );">Marketing Agreement | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember', window );">Marketing Agreement | USL's assets up to $3 billion</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">0.06%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember', window );">Marketing Agreement | USL's assets in excess of $3 billion</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BaseFeePercentage', window );">Fee percentage</a></td>
<td class="nump">0.04%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember', window );">Marketing Agreement | USL's assets in excess of $3 billion | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 3,000,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember', window );">Marketing Agreement | USL's assets in excess of $3 billion | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems', window );"><strong>Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_BasisAmountForFeePercentage', window );">Base amount for determining fee percentage</a></td>
<td class="nump">$ 3,000,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoninterestExpenseTransferAgentAndCustodianFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fees paid to an agent employed by a corporation or mutual fund to maintain shareholder records, including purchases, sales, and account balances. Also includes custodian fees incurred during an accounting period from an agent, bank, trust company, or other organization that holds and safeguards an individual's, mutual fund's, or investment company's assets for them. These fees will be billed back to the client and are a component of noninterest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoninterestExpenseTransferAgentAndCustodianFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_BaseFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Base Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_BaseFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_BasisAmountForFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Basis Amount for Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_BasisAmountForFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_CommissionsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commissions Paid</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_CommissionsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:perUnitItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_TransactionFeesPaidPerTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transaction Fees Paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_TransactionFeesPaidPerTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupSixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupSevenMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupEightMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=usl_MarketingAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupFourMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentIdentifierSchemeAxis=usl_GroupFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentIdentifierSchemeAxis=usl_GroupFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759772800">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES (Additional Information) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems', window );"><strong>Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsMoneyMarketDeposits', window );">Cash investments in money market funds</a></td>
<td class="nump">$ 19,600,000<span></span>
</td>
<td class="nump">$ 19,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Deposits', window );">Deposits in domestic and foreign financial institutions</a></td>
<td class="nump">$ 64,409,285<span></span>
</td>
<td class="nump">$ 69,230,084<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Deposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Deposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsMoneyMarketDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deposits in accounts that offer many of the same services as checking accounts although transactions may be somewhat more limited, share some of the characteristics of a money market fund and are insured by the Federal government, also known as money market accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsMoneyMarketDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6761916784">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL HIGHLIGHTS (Per Unit Performance Data and Other Supplemental Financial Data) (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward', window );"><strong>Per Share Operating Performance:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, beginning of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 21.05<span></span>
</td>
<td class="nump">$ 20.39<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_TotalIncomeLossPerUnit', window );">Total income (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.41<span></span>
</td>
<td class="num">(3.52)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_TotalExpensesPerUnit', window );">Total expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(0.09)<span></span>
</td>
<td class="num">(0.08)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_IncreaseDecreaseInNetAssetValuePerUnit', window );">Net increase (decrease) in net asset value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.32<span></span>
</td>
<td class="num">(3.60)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_NetAssetValuePerUnit', window );">Net asset value, end of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 25.37<span></span>
</td>
<td class="nump">$ 16.79<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_RateOfReturnOnAverageAsset', window );">Total Return</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.52%<span></span>
</td>
<td class="num">(17.66%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_AverageNetAssetsAbstract', window );"><strong>Ratios to Average Net Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfTotalRevenue', window );">Total income (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19.19%<span></span>
</td>
<td class="num">(18.40%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_ManagementIncentiveFeePercentage', window );">Management fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.60%<span></span>
</td>
<td class="nump">0.60%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_ExpensesExcludingManagementFeePercentage', window );">Expenses excluding management fees</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.21%<span></span>
</td>
<td class="nump">0.27%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_usl_PercentageOfConsolidatedNetIncomeLoss', window );">Net income (loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18.78%<span></span>
</td>
<td class="num">(18.83%)<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Annualized.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPartnersCapitalRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPartnersCapitalRollForward</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_AverageNetAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average Net Assets [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_AverageNetAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_ExpensesExcludingManagementFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses, Excluding Management Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_ExpensesExcludingManagementFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_IncreaseDecreaseInNetAssetValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Net Asset Value Per Unit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_IncreaseDecreaseInNetAssetValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_ManagementIncentiveFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Management Incentive Fee Percentage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_ManagementIncentiveFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_NetAssetValuePerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net asset value per unit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_NetAssetValuePerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_PercentageOfConsolidatedNetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Consolidated Net Income (Loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_PercentageOfConsolidatedNetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_PercentageOfTotalRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of Total Revenue</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_PercentageOfTotalRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_RateOfReturnOnAverageAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rate Of Return On Average Asset</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_RateOfReturnOnAverageAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_TotalExpensesPerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total Expenses, Per Unit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_TotalExpensesPerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_usl_TotalIncomeLossPerUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total Income (Loss), Per Unit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">usl_TotalIncomeLossPerUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>usl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6762124336">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS (Valuation of Securities Using Fair Value Hierarchy) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentGeographicRegionAxis=country_US', window );">United States</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">$ 16,534,641<span></span>
</td>
<td class="nump">$ 11,072,567<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ShortTermInvestmentsMember', window );">Short-Term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">83,283,254<span></span>
</td>
<td class="nump">85,783,036<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 | United States</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">16,534,641<span></span>
</td>
<td class="nump">11,072,567<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Fair Value, Inputs, Level 1 | Short-Term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">83,283,254<span></span>
</td>
<td class="nump">85,783,036<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 | United States</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Fair Value, Inputs, Level 3 | Short-Term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems', window );"><strong>Schedule of Trading Securities and Other Trading Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Investments, Fair Value Disclosure</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsFairValueDisclosure</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems</td>
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<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ShortTermInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6759703328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CommodityContractMember', window );">Commodity Contracts | Assets | Futures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesFairValueLineItems', window );"><strong>Derivatives, Fair Value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue', window );">Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net</a></td>
<td class="nump">$ 16,534,641<span></span>
</td>
<td class="nump">$ 11,072,567<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of derivative instrument not designated as hedging instrument and classified as an asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109980867&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativesFairValueLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativesFairValueLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CommodityContractMember">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CommodityContractMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AssetsTotalMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_FutureMember</td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6763121984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS (Effect of Derivative Instruments on Condensed Statements of Operations) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts', window );">Change in Unrealized Gain (Loss) on Derivatives Recognized in Income</a></td>
<td class="nump">$ 5,462,074<span></span>
</td>
<td class="num">$ (27,523,684)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CommodityContractMember', window );">Commodity Contracts | Realized gain (loss) on closed positions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfDerivatives', window );">Realized Gain (Loss) on Derivatives Recognized in Income</a></td>
<td class="nump">10,264,256<span></span>
</td>
<td class="nump">6,619,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_CommodityContractMember', window );">Commodity Contracts | Change in unrealized gain (loss) on open positions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts', window );">Change in Unrealized Gain (Loss) on Derivatives Recognized in Income</a></td>
<td class="nump">$ 5,462,074<span></span>
</td>
<td class="num">$ (27,523,684)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.13(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfDerivatives</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of open derivatives, commodity, or energy contracts, held at each balance sheet date, that was included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
