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CONTRACTS AND AGREEMENTS (Tables) | 6 Months Ended
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Jun. 30, 2020
CONTRACTS AND AGREEMENTS |
Schedule of 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”). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months | ​ | Six months | ​
​ | ​ | ended | ​ | ended | ​
​ |  | June 30, 2020 | ​ | June 30, 2019 | ​
Total commissions accrued to brokers | ​ | $ | 74,177 | ​ | $ | 3,857 | ​
Total commissions as annualized percentage of average total net assets | ​ |  | 0.11 | % |  | 0.01 | %
Commissions accrued as a result of rebalancing | ​ | $ | 16,605 |  | $ | 3,446 | ​
Percentage of commissions accrued as a result of rebalancing | ​ |  | 22.39 | % |  | 89.34 | %
Commissions accrued as a result of creation and redemption activity | ​ | $ | 57,572 |  | $ | 411 | ​
Percentage of commissions accrued as a result of creation and redemption activity | ​ |  | 77.61 | % |  | 10.66 | %

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- Definition Tabular disclosure of fees earned by the broker commission. + References No definition available. + Details
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