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CONTRACTS AND AGREEMENTS (Tables)
9 Months Ended
Sep. 30, 2018
Contractors [Abstract]  
Brokerage Commissions
USL also incurs commissions to brokers for the purchase and sale of Oil Futures Contracts, Other Oil-Related Investments or short-term obligations of the United States of two years or less (“Treasuries”).
 
 
 
For the nine months

ended

September 30, 2018
 
 
For the nine months

ended

September 30, 2017
 
Total commissions accrued to brokers
 
$
5,501
 
 
$
13,484
 
Total commissions as annualized percentage of average total net assets
 
 
0.01
%
 
 
0.02
%
Commissions accrued as a result of rebalancing
 
$
4,520
 
 
$
10,815
 
Percentage of commissions accrued as a result of rebalancing
 
 
82.17
%
 
 
80.21
%
Commissions accrued as a result of creation and redemption activity
 
$
981
 
 
$
2,669
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
17.83
%
 
 
19.79
%