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CONTRACTS AND AGREEMENTS (Tables)
 3 Months Ended
Mar. 31, 2019
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 three months

ended

March 31, 2019
 
 
For the three months

ended

March 31, 2018
 
Total commissions accrued to brokers
         
 
$
1,872
 
 
$
574
 
Total commissions as annualized percentage of average total net assets
 
 
0.01
%
 
 
0.00
%*
Commissions accrued as a result of rebalancing
 
$
1,823
 
 
$
34
 
Percentage of commissions accrued as a result of rebalancing
 
 
97.38
%
 
 
5.92
%
Commissions accrued as a result of creation and redemption activity
 
$
49
 
 
$
540
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
2.62
%
 
 
94.08
%
  
* Represents less than 0.005%.