XML 18 R3.htm IDEA: XBRL DOCUMENT v3.20.2

Condensed Schedule of Investments	Jun. 30, 2020 USD ($)
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 66,376,630
Open Futures Contracts, Long | United States
Notional Amount	$ 208,523,610	[1]
Number of Contracts	6,903	[1]
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 66,376,630	[1]
% of Partners' Capital	24.15%	[1]
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL August 2020 contracts, expiring July 2020
Notional Amount	$ 13,802,810
Number of Contracts	576
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 8,816,710
% of Partners' Capital	3.21%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL September 2020 contracts, expiring August 2020
Notional Amount	$ 14,889,980
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 7,730,520
% of Partners' Capital	2.81%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL October 2020 contracts, expiring September 2020
Notional Amount	$ 15,567,490
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 7,133,510
% of Partners' Capital	2.60%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL November 2020 contracts, expiring October 2020
Notional Amount	$ 16,153,930
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 6,604,570
% of Partners' Capital	2.40%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL December 2020 contracts, expiring November 2020
Notional Amount	$ 16,676,140
Number of Contracts	576
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 6,179,540
% of Partners' Capital	2.25%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL January 2021 contracts, expiring December 2020
Notional Amount	$ 17,081,760
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 5,791,740
% of Partners' Capital	2.11%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL February 2021 contracts, expiring January 2021
Notional Amount	$ 17,447,370
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 5,477,880
% of Partners' Capital	1.99%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL March 2021 contracts, expiring February 2021
Notional Amount	$ 17,782,430
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 5,200,320
% of Partners' Capital	1.89%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures CL April 2021 contracts, expiring March 2021
Notional Amount	$ 18,060,530
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 4,985,470
% of Partners' Capital	1.81%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures May 2021 contracts, expiring April 2021
Notional Amount	$ 18,309,670
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 4,793,830
% of Partners' Capital	1.74%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures June 2021 contracts, expiring May 2021
Notional Amount	$ 19,676,750
Number of Contracts	576
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 3,530,290
% of Partners' Capital	1.29%
Open Futures Contracts, Long | United States | NYMEX WTI Crude Oil Futures July 2021 contracts, expiring June 2021
Notional Amount	$ 23,074,750
Number of Contracts	575
Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts	$ 132,250
% of Partners' Capital	0.05%
Cash Equivalents
Market Value	$ 246,565,462
% of Partners' Capital	89.70%
Cash Equivalents | United States Treasury Obligations
Market Value	$ 10,985,763
% of Partners' Capital	4.00%
Cash Equivalents | United States Treasury Obligations | US Treasury Bills 1.54%, 7/02/2020
Principal Amount	$ 1,000,000
Market Value	$ 999,958
% of Partners' Capital	0.37%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 1.52%, 7/09/2020
Principal Amount	$ 1,000,000
Market Value	$ 999,666
% of Partners' Capital	0.37%
Cash Equivalents | United States Treasury Obligations | U.S Treasury Bills 1.55%, 7/16/2020
Principal Amount	$ 1,000,000
Market Value	$ 999,362
% of Partners' Capital	0.37%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.53%, 7/23/2020
Principal Amount	$ 1,000,000
Market Value	$ 999,074
% of Partners' Capital	0.36%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.54%, 7/30/2020
Principal Amount	$ 1,000,000
Market Value	$ 998,776
% of Partners' Capital	0.36%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.54%, 8/06/2020
Principal Amount	$ 1,000,000
Market Value	$ 998,480
% of Partners' Capital	0.36%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.52%, 8/13/2020
Principal Amount	$ 1,000,000
Market Value	$ 998,200
% of Partners' Capital	0.36%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.53%, 8/20/2020
Principal Amount	$ 1,000,000
Market Value	$ 997,903
% of Partners' Capital	0.36%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills, 1.43%, 8/27/2020
Principal Amount	$ 2,000,000
Market Value	$ 1,995,535
% of Partners' Capital	0.73%
Cash Equivalents | United States Treasury Obligations | U.S. Treasury Bills 0.68%, 9/03/2020
Principal Amount	$ 1,000,000
Market Value	$ 998,809
% of Partners' Capital	0.36%
Cash Equivalents | United States - Money Market Funds
Market Value	$ 235,579,699
% of Partners' Capital	85.70%
Cash Equivalents | United States - Money Market Funds | Fidelity Investments Money Market Funds - Government Portfolio [Member]
Principal Amount	$ 340,162
Market Value	$ 340,162
% of Partners' Capital	0.12%
Cash Equivalents | United States - Money Market Funds | Goldman Sachs Financial Square Funds - Government Fund - Class FS [Member]
Principal Amount	$ 234,234,868
Market Value	$ 234,234,868
% of Partners' Capital	85.21%
Cash Equivalents | United States - Money Market Funds | RBC U.S. Government Money Market Fund - Institutional Share Class [Member]
Principal Amount	$ 1,004,669
Market Value	$ 1,004,669
% of Partners' Capital	0.37%
[1] Collateral amounted to $10,985,763 on open commodity futures contracts.

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 210
-Section 50
-Paragraph 6
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99383244&loc=d3e12121-115841

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C.Column C.7)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14.Column E.2,3)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12.Column C.3,4)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13.Column C.6)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611282-123010

+ Details

Name:	us-gaap_InvestmentOwnedAtFairValue
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Balance held at close of period in number of contracts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010

+ Details

Name:	us-gaap_InvestmentOwnedBalanceContracts
Namespace Prefix:	us-gaap_
Data Type:	xbrli:decimalItemType
Balance Type:	na
Period Type:	instant

X

- Definition

For investments which are quantified by principal amount, the principle balance held at close of period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 210
-Section 50
-Paragraph 6
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=99383244&loc=d3e12121-115841

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12.Column B)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010

+ Details

Name:	us-gaap_InvestmentOwnedBalancePrincipalAmount
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Nominal or face amount on the investment owned.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 20
-Section 10
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6438156&loc=d3e57880-113973

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 10
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6431724&loc=d3e32938-113948

+ Details

Name:	us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Percentage of Partners Capital

+ References

No definition available.

+ Details

Name:	usl_PercentageOfPartnersCapital
Namespace Prefix:	usl_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Unrealized gain (loss) on open commodity futures contracts.

+ References

No definition available.

+ Details

Name:	usl_UnrealizedGainLossOnOpenCommodityFuturesContracts
Namespace Prefix:	usl_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=usl_OpenFuturesContractsLongMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_StatementGeographicalAxis=country_US
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClAugust2020ContractsExpiringJuly2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClSeptember2020ContractsExpiringAugust2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClOctober2020ContractsExpiringSeptember2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClNovember2020ContractsExpiringOctober2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClDecember2020ContractsExpiringNovember2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClJanuary2021ContractsExpiringDecember2020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClFebruary2021ContractsExpiringJanuary2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClMarch2021ContractsExpiringFebruary2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClApril2021ContractsExpiringMarch2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClMay2021ContractsExpiringApril2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClJune2021ContractsExpiringMay2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_NymexWtiCrudeOilFuturesClJuly2021ContractsExpiringJune2021Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_CashAndCashEquivalentsAxis=us-gaap_CashEquivalentsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_InvestmentSecondaryCategorizationAxis=us-gaap_USTreasurySecuritiesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_UsTreasuryBills1.547022020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills1.527092020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.sTreasuryBills1.557162020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.TreasuryBills1.537232020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills1.547302020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills1.548062020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.TreasuryBills1.528132020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills1.538202020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills1.438272020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentAxis=usl_U.s.treasuryBills0.689032020Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_InvestmentSecondaryCategorizationAxis=us-gaap_MoneyMarketFundsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=usl_FidelityInvestmentsMoneyMarketFundsGovernmentPortfolioMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=usl_GoldmanSachsFinancialSquareFundsGovernmentFundClassFsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DerivativeInstrumentRiskAxis=usl_RbcU.s.GovernmentMoneyMarketFundInstitutionalShareClassMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: