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<!--Created on: 5/9/2024 2:02:35 PM-->
<!--Modified on: 5/9/2024 2:02:35 PM-->
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract" xlink:to="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl" xml:lang="en-US">Financial Instruments, Owned, at Fair Value, by Type, Alternative [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAtFairValueByTypeAbstract_lbl" xml:lang="en-US">Equity in trading accounts:</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents (at cost $20,376,810 and $45,391,063, respectively)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Restricted cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent" xlink:to="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent_lbl" xml:lang="en-US">Amount of unrealized gain (loss) on open commodity futures contracts.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent_lbl" xml:lang="en-US">Unrealized Gain Loss on Open Commodity Futures Contracts Current and Noncurrent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContractsCurrentAndNoncurrent_lbl" xml:lang="en-US">Unrealized gain (loss) on open commodity futures contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsReceivable" xlink:label="us-gaap_DividendsReceivable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsReceivable" xlink:to="us-gaap_DividendsReceivable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsReceivable_lbl" xml:lang="en-US">Dividends Receivable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendsReceivable_lbl" xml:lang="en-US">Dividends receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestReceivable" xlink:label="us-gaap_InterestReceivable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivable" xlink:to="us-gaap_InterestReceivable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestReceivable_lbl" xml:lang="en-US">Interest Receivable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestReceivable_lbl" xml:lang="en-US">Interest receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PrepaidLicenseFees" xlink:label="usl_PrepaidLicenseFees" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PrepaidLicenseFees" xlink:to="usl_PrepaidLicenseFees_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PrepaidLicenseFees_lbl" xml:lang="en-US">Amount of asset related to consideration paid in advance for license fees that provides economic benefits within a future period of one year or the normal operating cycle, if longer.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PrepaidLicenseFees_lbl" xml:lang="en-US">Prepaid License Fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PrepaidLicenseFees_lbl" xml:lang="en-US">Prepaid license fees</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrepaidInsurance" xlink:label="us-gaap_PrepaidInsurance" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidInsurance" xlink:to="us-gaap_PrepaidInsurance_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidInsurance_lbl" xml:lang="en-US">Prepaid Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidInsurance_lbl" xml:lang="en-US">Prepaid insurance</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total Assets</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalNotesAbstract" xlink:label="us-gaap_PartnersCapitalNotesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalNotesAbstract" xlink:to="us-gaap_PartnersCapitalNotesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalNotesAbstract_lbl" xml:lang="en-US">Partners' Capital Notes [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalNotesAbstract_lbl" xml:lang="en-US">Liabilities and Partners' Capital</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ManagementFeePayable" xlink:label="us-gaap_ManagementFeePayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeePayable" xlink:to="us-gaap_ManagementFeePayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementFeePayable_lbl" xml:lang="en-US">Management Fee Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ManagementFeePayable_lbl" xml:lang="en-US">General Partner management fees payable (Note 3)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl" xml:lang="en-US">Accrued Professional Fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedProfessionalFeesCurrentAndNoncurrent_lbl" xml:lang="en-US">Professional fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations" xlink:to="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Commission Payable to Broker-Dealer and Clearing Organization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommissionsPayableToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Brokerage commissions payable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_DirectorsFeesPayable" xlink:label="usl_DirectorsFeesPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_DirectorsFeesPayable" xlink:to="usl_DirectorsFeesPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_DirectorsFeesPayable_lbl" xml:lang="en-US">Carrying amount of the unpaid portion of the fee payable to the managing member or general partner for management of the fund or trust.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_DirectorsFeesPayable_lbl" xml:lang="en-US">Directors Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_DirectorsFeesPayable_lbl" xml:lang="en-US">Directors' fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_LicenseFeesPayableCurrentAndNoncurrent" xlink:label="usl_LicenseFeesPayableCurrentAndNoncurrent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_LicenseFeesPayableCurrentAndNoncurrent" xlink:to="usl_LicenseFeesPayableCurrentAndNoncurrent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">License fees payable Current and Noncurrent.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">License Fees Payable Current And Noncurrent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_LicenseFeesPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">License fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Liabilities, Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments And Contingencies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and Contingencies (Notes 3, 4 &amp; 5)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAbstract" xlink:label="us-gaap_PartnersCapitalAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAbstract" xlink:to="us-gaap_PartnersCapitalAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAbstract_lbl" xml:lang="en-US">Partners Capital [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAbstract_lbl" xml:lang="en-US">Partners' Capital</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeneralPartnersCapitalAccount" xlink:label="us-gaap_GeneralPartnersCapitalAccount" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralPartnersCapitalAccount" xlink:to="us-gaap_GeneralPartnersCapitalAccount_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralPartnersCapitalAccount_lbl" xml:lang="en-US">General Partners Capital Account</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GeneralPartnersCapitalAccount_lbl" xml:lang="en-US">General Partners</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccount" xlink:label="us-gaap_LimitedPartnersCapitalAccount" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccount" xlink:to="us-gaap_LimitedPartnersCapitalAccount_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccount_lbl" xml:lang="en-US">Limited Partners Capital Account</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccount_lbl" xml:lang="en-US">Limited Partners</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapital" xlink:label="us-gaap_PartnersCapital" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapital" xlink:to="us-gaap_PartnersCapital_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US">Partners Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US">Balances at end of period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US">Balances at beginning of period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PartnersCapital_lbl" xml:lang="en-US">Total Partners' Capital</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Liabilities And Stockholders Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total Liabilities and Partners' Capital</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:to="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl" xml:lang="en-US">Limited Partners Capital Account Units Outstanding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_lbl" xml:lang="en-US">Limited Partners' shares outstanding</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NetAssetValuePerUnit" xlink:label="usl_NetAssetValuePerUnit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NetAssetValuePerUnit" xlink:to="usl_NetAssetValuePerUnit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Number of net asset value per unit.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net Asset Value Per Unit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset value, end of year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset value, beginning of year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset value per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset value per share</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_MarketValuePerUnit" xlink:label="usl_MarketValuePerUnit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_MarketValuePerUnit" xlink:to="usl_MarketValuePerUnit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_MarketValuePerUnit_lbl" xml:lang="en-US">Market value per unit.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_MarketValuePerUnit_lbl" xml:lang="en-US">Market Value Per Unit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_MarketValuePerUnit_lbl" xml:lang="en-US">Market value per share</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_StatementScheduleOfInvestmentsAbstract" xlink:label="usl_StatementScheduleOfInvestmentsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_StatementScheduleOfInvestmentsAbstract" xlink:to="usl_StatementScheduleOfInvestmentsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_StatementScheduleOfInvestmentsAbstract_lbl" xml:lang="en-US">Statement - Schedule of Investments [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_StatementScheduleOfInvestmentsAbstract_lbl" xml:lang="en-US">Condensed Schedule of Investments (Unaudited)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsAxis" xlink:label="us-gaap_CashAndCashEquivalentsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAxis" xlink:to="us-gaap_CashAndCashEquivalentsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAxis_lbl" xml:lang="en-US">Cash and Cash Equivalents [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashEquivalentsMember" xlink:label="us-gaap_CashEquivalentsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashEquivalentsMember" xlink:to="us-gaap_CashEquivalentsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashEquivalentsMember_lbl" xml:lang="en-US">Cash Equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashEquivalentsMember_lbl" xml:lang="en-US">Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:to="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" xml:lang="en-US">Financial Instrument Performance Status [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentPerformanceStatusDomain" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentPerformanceStatusDomain" xlink:to="us-gaap_FinancialInstrumentPerformanceStatusDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusDomain_lbl" xml:lang="en-US">Financial Instrument Performance Status [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_OpenFuturesContractsLongMember" xlink:label="usl_OpenFuturesContractsLongMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_OpenFuturesContractsLongMember" xlink:to="usl_OpenFuturesContractsLongMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_OpenFuturesContractsLongMember_lbl" xml:lang="en-US">Open Futures Contracts, Long</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_OpenFuturesContractsLongMember_lbl" xml:lang="en-US">Open Commodity Futures Contracts - Long</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_OpenFuturesContractsLongMember_lbl" xml:lang="en-US">Open Commodity Futures Contracts - Long</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SegmentGeographicalDomain" xlink:label="srt_SegmentGeographicalDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_US" xlink:label="country_US" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_US_lbl" xml:lang="en-US">UNITED STATES</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_US_lbl" xml:lang="en-US">United States Contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_InvestmentSecondaryCategorization1Axis" xlink:label="usl_InvestmentSecondaryCategorization1Axis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_InvestmentSecondaryCategorization1Axis" xlink:to="usl_InvestmentSecondaryCategorization1Axis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_InvestmentSecondaryCategorization1Axis_lbl" xml:lang="en-US">Information by investment secondary categorization.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_InvestmentSecondaryCategorization1Axis_lbl" xml:lang="en-US">Investment Secondary Categorization 1 [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_InvestmentsBySecondaryCategorization1Domain" xlink:label="usl_InvestmentsBySecondaryCategorization1Domain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_InvestmentsBySecondaryCategorization1Domain" xlink:to="usl_InvestmentsBySecondaryCategorization1Domain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_InvestmentsBySecondaryCategorization1Domain_lbl" xml:lang="en-US">Investments under by secondary categorization.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_InvestmentsBySecondaryCategorization1Domain_lbl" xml:lang="en-US">Investments By Secondary Categorization 1 [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="us-gaap_MoneyMarketFundsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="us-gaap_MoneyMarketFundsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US">United States Money Market Funds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US">United States Money Market Funds</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US">Financial Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US">Financial Instruments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL February 2024 contracts, expiring January 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL February 2024 Contracts, Expiring January 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2024ContractsExpiringJanuary2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL February 2024 contracts, expiring January 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL March 2024 contracts, expiring February 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL March 2024 Contracts, Expiring February 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2024ContractsExpiringFebruary2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL March 2024 contracts, expiring February 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL April 2024 contracts, expiring March 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL April 2024 Contracts, Expiring March 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2024ContractsExpiringMarch2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL April 2024 contracts, expiring March 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL May 2024 contracts, expiring April 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL May 2024 contracts, expiring April 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClMay2024ContractsExpiringApril2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL May 2024 contracts, expiring April 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL June 2024 contracts, expiring May 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL June 2024 contracts, expiring May 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClJune2024ContractsExpiringMay2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL June 2024 contracts, expiring May 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL July 2024 contracts, expiring June 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL July 2024 contracts, expiring June 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClJuly2024ContractsExpiringJune2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL July 2024 contracts, expiring June 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL August 2024 contracts, expiring July 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL August 2024 contracts, expiring July 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClAugust2024ContractsExpiringJuly2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL August 2024 contracts, expiring July 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL September 2024 contracts, expiring August 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL September 2024 contracts, expiring August 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClSeptember2024ContractsExpiringAugust2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL September 2024 contracts, expiring August 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL October 2024 contracts, expiring September 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL October 2024 contracts, expiring September 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClOctober2024ContractsExpiringSeptember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL October 2024 contracts, expiring September 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL November 2024 contracts, expiring October 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL November 2024 contracts, expiring October 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClNovember2024ContractsExpiringOctober2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL November 2024 contracts, expiring October 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL December 2024 contracts, expiring November 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL December 2024 contracts, expiring November 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClDecember2024ContractsExpiringNovember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL December 2024 contracts, expiring November 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member" xlink:label="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member" xlink:to="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL January 2025 contracts, expiring December 2024.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL January 2025 contracts, expiring December 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClJanuary2025ContractsExpiringDecember2024Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL January 2025 contracts, expiring December 2024</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member" xlink:to="usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL February 2025 contracts, expiring January 2025.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClFebruary2025ContractsExpiringJanuary2025Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL February 2025 contracts, expiring January 2025</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member" xlink:to="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL March 2025 contracts, expiring February 2025.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL March 2025 contracts, expiring February 2025 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClMarch2025ContractsExpiringFebruary2025Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL March 2025 contracts, expiring February 2025</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member" xlink:to="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member_lbl" xml:lang="en-US">Represents the information pertaining to NYMEX WTI Crude Oil Futures CL April 2025 contracts, expiring March 2025.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL April 2025 contracts, expiring March 2025 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NymexWtiCrudeOilFuturesClApril2025ContractsExpiringMarch2025Member_lbl" xml:lang="en-US">NYMEX WTI Crude Oil Futures CL April 2025 contracts, expiring March 2025</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US">Derivative Instrument Risk [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="us-gaap_DerivativeContractTypeDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeContractTypeDomain_lbl" xml:lang="en-US">Derivative Contract Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" xlink:label="usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember" xlink:to="usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember_lbl" xml:lang="en-US">Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_MorganStanleyInstitutionalLiquidityFundsGovernmentPortfolioMember_lbl" xml:lang="en-US">Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="us-gaap_InvestmentOwnedAtFairValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtFairValue" xlink:to="us-gaap_InvestmentOwnedAtFairValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedAtFairValue_lbl" xml:lang="en-US">Investment Owned, at Fair Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentOwnedAtFairValue_lbl" xml:lang="en-US">Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedBalanceContracts" xlink:label="us-gaap_InvestmentOwnedBalanceContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedBalanceContracts" xlink:to="us-gaap_InvestmentOwnedBalanceContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedBalanceContracts_lbl" xml:lang="en-US">Investment Owned Balance Contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedBalanceContracts_lbl" xml:lang="en-US">Number of Contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts" xlink:to="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US">Unrealized gain (loss) on open commodity futures contracts.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US">Unrealized Gain Loss On Open Commodity Futures Contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_UnrealizedGainLossOnOpenCommodityFuturesContracts_lbl" xml:lang="en-US">Fair Value/ Unrealized Gain (Loss) on Open Commodity Contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedBalancePrincipalAmount" xlink:to="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US">Investment Owned Balance Principal Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedBalancePrincipalAmount_lbl" xml:lang="en-US">Shares/Principal Amount</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue" xlink:to="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US">Investment Owned Underlying Face Amount At Market Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue_lbl" xml:lang="en-US">Market Value</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PercentageOfPartnersCapital" xlink:label="usl_PercentageOfPartnersCapital" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PercentageOfPartnersCapital" xlink:to="usl_PercentageOfPartnersCapital_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PercentageOfPartnersCapital_lbl" xml:lang="en-US">Percentage of Partners Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PercentageOfPartnersCapital_lbl" xml:lang="en-US">Percentage Of Partners Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PercentageOfPartnersCapital_lbl" xml:lang="en-US">% of Partners' Capital</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Interest rate</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CollateralAmountOnOpenFuturesContracts" xlink:label="usl_CollateralAmountOnOpenFuturesContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CollateralAmountOnOpenFuturesContracts" xlink:to="usl_CollateralAmountOnOpenFuturesContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CollateralAmountOnOpenFuturesContracts_lbl" xml:lang="en-US">The collateral amount on open future contracts.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CollateralAmountOnOpenFuturesContracts_lbl" xml:lang="en-US">Collateral Amount On Open Futures Contracts</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Income</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_GainLossOnCommodityFuturesAbstract" xlink:label="usl_GainLossOnCommodityFuturesAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_GainLossOnCommodityFuturesAbstract_lbl" xml:lang="en-US">Gain (loss) on trading of commodity futures contracts:</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrealizedGainLossOnInvestments_lbl" xml:lang="en-US">Change in unrealized gain (loss) on open commodity futures contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendIncomeOperating" xlink:label="us-gaap_DividendIncomeOperating" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendIncomeOperating" xlink:to="us-gaap_DividendIncomeOperating_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendIncomeOperating_lbl" xml:lang="en-US">Dividend income</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeOperating" xlink:label="us-gaap_InterestIncomeOperating" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US">Interest income</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherIncome" xlink:label="us-gaap_OtherIncome" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ManagementFeeExpense" xlink:label="us-gaap_ManagementFeeExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementFeeExpense" xlink:to="us-gaap_ManagementFeeExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ManagementFeeExpense_lbl" xml:lang="en-US">Management Fee Expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ManagementFeeExpense_lbl" xml:lang="en-US">General Partner management fees (Note 3)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalFees" xlink:to="us-gaap_ProfessionalFees_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US">Professional Fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US">Professional fees</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FloorBrokerageExchangeAndClearanceFees" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Floor Brokerage Exchange And Clearance Fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Brokerage commissions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FloorBrokerageExchangeAndClearanceFees_lbl" xml:lang="en-US">Total commissions accrued to brokers</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NoninterestExpenseDirectorsFees" xlink:label="us-gaap_NoninterestExpenseDirectorsFees" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestExpenseDirectorsFees_lbl" xml:lang="en-US">Directors' fees and insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NoninterestExpenseDirectorsFees_lbl" xml:lang="en-US">Estimated directors' fees and expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_LicenseFeesAndOtherOfferingExpenses" xlink:label="usl_LicenseFeesAndOtherOfferingExpenses" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US">It represent the value of license fees and other offering expenses.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US">License Fees And Other Offering Expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US">License fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_LicenseFeesAndOtherOfferingExpenses_lbl" xml:lang="en-US">Licensing fee incurred</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_TotalExpenses" xlink:to="usl_TotalExpenses_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_TotalExpenses_lbl" xml:lang="en-US">Total Expenses.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_TotalExpenses_lbl" xml:lang="en-US">Total Expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="usl_TotalExpenses_lbl" xml:lang="en-US">Total Expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net Income (loss)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income (loss)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax_lbl" xml:lang="en-US">Net Income (Loss) per limited partner share</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" xlink:label="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_lbl" xml:lang="en-US">Net Income (Loss) per weighted average limited partner share</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:label="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_lbl" xml:lang="en-US">Weighted average limited partner shares outstanding</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfPartnersCapitalAbstract" xlink:label="us-gaap_StatementOfPartnersCapitalAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfPartnersCapitalAbstract_lbl" xml:lang="en-US">Condensed Statements of Changes in Partners' Capital (Unaudited)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnerCapitalComponentsAxis" xlink:label="us-gaap_PartnerCapitalComponentsAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LimitedPartnerMember" xlink:to="us-gaap_LimitedPartnerMember_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LimitedPartnerMember_lbl" xml:lang="en-US">Limited Partners</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountContributions_lbl" xml:lang="en-US">Partners' Capital Account, Contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PartnersCapitalAccountContributions_lbl" xml:lang="en-US">Addition of (-) and 350,000 partnership shares, respectively</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="us-gaap_PartnersCapitalAccountRedemptions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountRedemptions" xlink:to="us-gaap_PartnersCapitalAccountRedemptions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US">Partners Capital Account Redemptions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US">Redemption of (300,000) and (250,000) partnership shares, respectively</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountUnitsContributed" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsContributed" xlink:to="us-gaap_PartnersCapitalAccountUnitsContributed_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed_lbl" xml:lang="en-US">Partners' Capital Account, Units, Contributed</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PartnersCapitalAccountUnitsContributed_lbl" xml:lang="en-US">Addition of partnership shares</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:to="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US">Partners Capital Account Units Redeemed</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US">Redemption of partnership shares</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Condensed Statements of Cash Flows (Unaudited)</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flows from Operating Activities:</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts" xlink:to="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US">Unrealized Gain Loss On Derivatives And Commodity Contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US">Change in unrealized (gain) loss on open commodity futures contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivativesAndCommodityContracts_lbl" xml:lang="en-US">Change in unrealized gain (loss) on open commodity futures contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDividendsReceivable" xlink:to="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl" xml:lang="en-US">Increase Decrease In Dividends Receivable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDividendsReceivable_lbl" xml:lang="en-US">(Increase) decrease in dividends receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US">Increase (Decrease) in Accrued Interest Receivable, Net</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US">(Increase) decrease in interest receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPrepaidExpensesOther" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpensesOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpensesOther" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpensesOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpensesOther_lbl" xml:lang="en-US">Increase (Decrease) in Prepaid Expenses, Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpensesOther_lbl" xml:lang="en-US">(Increase) decrease in prepaid other</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPrepaidInsurance" xlink:label="us-gaap_IncreaseDecreaseInPrepaidInsurance" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidInsurance" xlink:to="us-gaap_IncreaseDecreaseInPrepaidInsurance_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidInsurance_lbl" xml:lang="en-US">Increase (Decrease) in Prepaid Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidInsurance_lbl" xml:lang="en-US">(Increase) decrease in prepaid insurance</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_IncreaseDecreaseInEtfTransactionFeesReceivable" xlink:label="usl_IncreaseDecreaseInEtfTransactionFeesReceivable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_IncreaseDecreaseInEtfTransactionFeesReceivable" xlink:to="usl_IncreaseDecreaseInEtfTransactionFeesReceivable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_IncreaseDecreaseInEtfTransactionFeesReceivable_lbl" xml:lang="en-US">The increase (decrease) during the reporting period in the amount due from borrowers for ETF Transaction fee.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_IncreaseDecreaseInEtfTransactionFeesReceivable_lbl" xml:lang="en-US">Increase Decrease In ETF Transaction Fees Receivable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_IncreaseDecreaseInEtfTransactionFeesReceivable_lbl" xml:lang="en-US">(Increase) decrease in ETF transaction fees receivable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_IncreaseDecreaseManagementFeesPayable" xlink:label="usl_IncreaseDecreaseManagementFeesPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_IncreaseDecreaseManagementFeesPayable" xlink:to="usl_IncreaseDecreaseManagementFeesPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US">Increase (Decrease) Management Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US">Increase Decrease Management Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_IncreaseDecreaseManagementFeesPayable_lbl" xml:lang="en-US">Increase (decrease) in General Partner management fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_IncreaseDecreaseInProfessionalFeesPayable" xlink:label="usl_IncreaseDecreaseInProfessionalFeesPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_IncreaseDecreaseInProfessionalFeesPayable" xlink:to="usl_IncreaseDecreaseInProfessionalFeesPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US">Increase (Decrease) In Professional Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US">Increase Decrease In Professional Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_IncreaseDecreaseInProfessionalFeesPayable_lbl" xml:lang="en-US">Increase (decrease) in professional fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xlink:label="us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders" xlink:to="us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders_lbl" xml:lang="en-US">Increase (Decrease) in Due to Officers and Stockholders</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders_lbl" xml:lang="en-US">Increase (decrease) in directors' fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_IncreaseDecreaseInLicenseFeesPayable" xlink:label="usl_IncreaseDecreaseInLicenseFeesPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_IncreaseDecreaseInLicenseFeesPayable" xlink:to="usl_IncreaseDecreaseInLicenseFeesPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US">Increase (Decrease) in License Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US">Increase Decrease In License Fees Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_IncreaseDecreaseInLicenseFeesPayable_lbl" xml:lang="en-US">Increase (decrease) in license fees payable</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flows from Financing Activities:</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromPartnershipContribution" xlink:label="us-gaap_ProceedsFromPartnershipContribution" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPartnershipContribution" xlink:to="us-gaap_ProceedsFromPartnershipContribution_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPartnershipContribution_lbl" xml:lang="en-US">Proceeds From Partnership Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPartnershipContribution_lbl" xml:lang="en-US">Addition of partnership shares</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PaymentsToPartnershipRedemption" xlink:label="usl_PaymentsToPartnershipRedemption" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PaymentsToPartnershipRedemption" xlink:to="usl_PaymentsToPartnershipRedemption_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US">Payments To Partnership Redemption</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US">Payments To Partnership Redemption</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="usl_PaymentsToPartnershipRedemption_lbl" xml:lang="en-US">Redemption of partnership shares</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US">Net Increase (Decrease) in Cash and Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts" xlink:label="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts" xlink:to="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts_lbl" xml:lang="en-US">No definition available.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts_lbl" xml:lang="en-US">Components of Cash, and Cash Equivalents, and Equity in Trading Accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_ComponentsOfCashAndCashEquivalentsAndEquityInTradingAccounts_lbl" xml:lang="en-US">Components of Cash, Cash Equivalents, and Equity in Trading Account:</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_EquityInTradingAccountsAbstract" xlink:label="usl_EquityInTradingAccountsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_EquityInTradingAccountsAbstract" xlink:to="usl_EquityInTradingAccountsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_EquityInTradingAccountsAbstract_lbl" xml:lang="en-US">Equity in Trading Accounts:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_EquityInTradingAccountsAbstract_lbl" xml:lang="en-US">Equity in Trading Accounts:</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CashAndCashEquivalentsInTradingAccounts" xlink:label="usl_CashAndCashEquivalentsInTradingAccounts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CashAndCashEquivalentsInTradingAccounts" xlink:to="usl_CashAndCashEquivalentsInTradingAccounts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CashAndCashEquivalentsInTradingAccounts_lbl" xml:lang="en-US">The amount of cash and cash equivalents in trading accounts.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CashAndCashEquivalentsInTradingAccounts_lbl" xml:lang="en-US">Cash And Cash Equivalents In Trading Accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_CashAndCashEquivalentsInTradingAccounts_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CashAndCashEquivalentsInEquityInTradingAccounts" xlink:label="usl_CashAndCashEquivalentsInEquityInTradingAccounts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CashAndCashEquivalentsInEquityInTradingAccounts" xlink:to="usl_CashAndCashEquivalentsInEquityInTradingAccounts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CashAndCashEquivalentsInEquityInTradingAccounts_lbl" xml:lang="en-US">Represents the amount of cash and cash equivalents in equity in trading accounts.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CashAndCashEquivalentsInEquityInTradingAccounts_lbl" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="usl_CashAndCashEquivalentsInEquityInTradingAccounts_lbl" xml:lang="en-US">Total Cash, Cash Equivalents and Equity in Trading Accounts</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">ORGANIZATION AND BUSINESS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">ORGANIZATION AND BUSINESS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FeesPaidAndRelatedPartyTransactionsAbstract" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FeesPaidAndRelatedPartyTransactionsAbstract" xlink:to="usl_FeesPaidAndRelatedPartyTransactionsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock" xlink:to="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Fees Paid and Related Party Transactions Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Fees Paid And Related Party Transactions Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ContractorsAbstract" xlink:label="us-gaap_ContractorsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractorsAbstract" xlink:to="us-gaap_ContractorsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractorsAbstract_lbl" xml:lang="en-US">CONTRACTS AND AGREEMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock" xlink:to="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl" xml:lang="en-US">Long-term Contracts or Programs Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermContractsOrProgramsDisclosureTextBlock_lbl" xml:lang="en-US">CONTRACTS AND AGREEMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:label="usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract" xlink:to="usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FinancialInstrumentsOffBalanceSheetRisksAndContingenciesAbstract_lbl" xml:lang="en-US">FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsDisclosureTextBlock" xlink:to="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl" xml:lang="en-US">Financial Instruments Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FinancialInstrumentsDisclosureTextBlock_lbl" xml:lang="en-US">FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FinancialHighlightsAbstract" xlink:label="usl_FinancialHighlightsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FinancialHighlightsAbstract" xlink:to="usl_FinancialHighlightsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FinancialHighlightsAbstract_lbl" xml:lang="en-US">No definition available.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FinancialHighlightsAbstract_lbl" xml:lang="en-US">FINANCIAL HIGHLIGHTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalFinancialInformationDisclosureTextBlock" xlink:to="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl" xml:lang="en-US">Additional Financial Information Disclosure [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalFinancialInformationDisclosureTextBlock_lbl" xml:lang="en-US">FINANCIAL HIGHLIGHTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="us-gaap_FairValueDisclosuresAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Basis of Presentation</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue Recognition</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommissionsPolicy" xlink:label="us-gaap_CommissionsPolicy" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommissionsPolicy" xlink:to="us-gaap_CommissionsPolicy_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommissionsPolicy_lbl" xml:lang="en-US">Commissions, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommissionsPolicy_lbl" xml:lang="en-US">Brokerage Commissions</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income Taxes</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock" xlink:to="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl" xml:lang="en-US">Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_lbl" xml:lang="en-US">Creations and Redemptions</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription" xlink:to="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl" xml:lang="en-US">Incentive Distribution Policy, Managing Member or General Partner, Description [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription_lbl" xml:lang="en-US">Partnership Capital and Allocation of Partnership Income and Losses</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NetAssetValuePolicyTextBlock" xlink:label="usl_NetAssetValuePolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NetAssetValuePolicyTextBlock" xlink:to="usl_NetAssetValuePolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US">Disclosure of accounting policy for net asset value.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US">Net Asset Value [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NetAssetValuePolicyTextBlock_lbl" xml:lang="en-US">Calculation of Per Share NAV</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Net Income (Loss) Per Share</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_OtherOperatingIncomeExpensePolicyTextBlock" xlink:label="usl_OtherOperatingIncomeExpensePolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_OtherOperatingIncomeExpensePolicyTextBlock" xlink:to="usl_OtherOperatingIncomeExpensePolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US">Disclosure of accounting policy for other operating income (expense).</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US">Other Operating Income Expense [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_OtherOperatingIncomeExpensePolicyTextBlock_lbl" xml:lang="en-US">Offering Costs</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_BrokerageCommissionsTableTextBlock" xlink:label="usl_BrokerageCommissionsTableTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_BrokerageCommissionsTableTextBlock" xlink:to="usl_BrokerageCommissionsTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US">Tabular disclosure of fees earned by the broker commission.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US">Brokerage Commissions [Table Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_BrokerageCommissionsTableTextBlock_lbl" xml:lang="en-US">Schedule of brokerage commissions</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:label="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock" xlink:to="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US">Tabular disclosure of per unit performance data and other supplemental financial data.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US">Per Unit Performance Data And Other Supplemental Financial Data Table [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PerUnitPerformanceDataAndOtherSupplementalFinancialDataTableTextBlock_lbl" xml:lang="en-US">Schedule of per unit performance data and other supplemental financial data</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:label="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:to="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US">Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US">Fair Value Asset And Liabilities Measured On Recurring And Nonrecurring Basis [Table Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_FairValueAssetAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US">Schedule of valuation of securities using fair value hierarchy</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" xml:lang="en-US">Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_lbl" xml:lang="en-US">Schedule of fair value of derivative instruments</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xml:lang="en-US">Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Text Block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_lbl" xml:lang="en-US">Schedule of effect of derivative instruments</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable" xlink:to="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTable_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CreationBasketsMember" xlink:label="usl_CreationBasketsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CreationBasketsMember" xlink:to="usl_CreationBasketsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CreationBasketsMember_lbl" xml:lang="en-US">Represents the information relating to creation baskets.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CreationBasketsMember_lbl" xml:lang="en-US">Creation Baskets [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_CreationBasketsMember_lbl" xml:lang="en-US">Creation Baskets</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems" xlink:to="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US">Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureLineItems_lbl" xml:lang="en-US">ORGANIZATION AND BUSINESS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NumberOfUnitsPerBasket" xlink:label="usl_NumberOfUnitsPerBasket" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NumberOfUnitsPerBasket" xlink:to="usl_NumberOfUnitsPerBasket_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NumberOfUnitsPerBasket_lbl" xml:lang="en-US">Number of shares per basket.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NumberOfUnitsPerBasket_lbl" xml:lang="en-US">Number Of Units Per Basket</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_NumberOfUnitsPerBasket_lbl" xml:lang="en-US">Number of shares per basket</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_NumberOfUnitsPerBasket_lbl" xml:lang="en-US">Number of shares per basket</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FeePaidPerOrder" xlink:label="usl_FeePaidPerOrder" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FeePaidPerOrder" xlink:to="usl_FeePaidPerOrder_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FeePaidPerOrder_lbl" xml:lang="en-US">Fee Paid Per Order</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FeePaidPerOrder_lbl" xml:lang="en-US">Fee Paid Per Order</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_FeePaidPerOrder_lbl" xml:lang="en-US">Fee paid by authorized purchasers for each order they place to create one or more creation baskets or to redeem one or more baskets</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_NumberOfRegisteredUnits" xlink:label="usl_NumberOfRegisteredUnits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_NumberOfRegisteredUnits" xlink:to="usl_NumberOfRegisteredUnits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_NumberOfRegisteredUnits_lbl" xml:lang="en-US">Number of shares registered.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_NumberOfRegisteredUnits_lbl" xml:lang="en-US">Number Of Registered Units</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_NumberOfRegisteredUnits_lbl" xml:lang="en-US">Number of registered shares</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_UnitsIssuedDuringPeriodUnitsNewIssues" xlink:label="usl_UnitsIssuedDuringPeriodUnitsNewIssues" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_UnitsIssuedDuringPeriodUnitsNewIssues" xlink:to="usl_UnitsIssuedDuringPeriodUnitsNewIssues_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_UnitsIssuedDuringPeriodUnitsNewIssues_lbl" xml:lang="en-US">Number of shares issued during the period.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_UnitsIssuedDuringPeriodUnitsNewIssues_lbl" xml:lang="en-US">Units Issued During Period Units New Issues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_UnitsIssuedDuringPeriodUnitsNewIssues_lbl" xml:lang="en-US">Number of shares issued</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_UnitsIssuedDuringPeriodValueNewIssues" xlink:label="usl_UnitsIssuedDuringPeriodValueNewIssues" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_UnitsIssuedDuringPeriodValueNewIssues" xlink:to="usl_UnitsIssuedDuringPeriodValueNewIssues_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Amount received from the issuance of new shares during the period.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Units Issued During Period Value New Issues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_UnitsIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Value of shares issued</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_SignificantAccountingPoliciesTable" xlink:label="usl_SignificantAccountingPoliciesTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_SignificantAccountingPoliciesTable" xlink:to="usl_SignificantAccountingPoliciesTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US">Significant Accounting Policies [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US">Significant Accounting Policies [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_SignificantAccountingPoliciesTable_lbl" xml:lang="en-US">Significant Accounting Policies [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_SignificantAccountingPoliciesLineItems" xlink:label="usl_SignificantAccountingPoliciesLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_SignificantAccountingPoliciesLineItems" xlink:to="usl_SignificantAccountingPoliciesLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US">Significant Accounting Policies.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US">Significant Accounting Policies [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_SignificantAccountingPoliciesLineItems_lbl" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:to="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_lbl" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_lbl" xml:lang="en-US">Income tax interest expense or penalties</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule Of Related Party Transactions By Related Party [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US">Investment Type Categorization [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FundTrustsMember" xlink:label="usl_FundTrustsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FundTrustsMember" xlink:to="usl_FundTrustsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FundTrustsMember_lbl" xml:lang="en-US">Represents information relating to fund trust.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FundTrustsMember_lbl" xml:lang="en-US">Fund Trusts [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_FundTrustsMember_lbl" xml:lang="en-US">USL and other Related Public Funds</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_GroupThreeMember" xlink:label="usl_GroupThreeMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_GroupThreeMember" xlink:to="usl_GroupThreeMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_GroupThreeMember_lbl" xml:lang="en-US">Represents the information relating to group three.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_GroupThreeMember_lbl" xml:lang="en-US">Group Three [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_GroupThreeMember_lbl" xml:lang="en-US">Licensing Fees</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_StatementScenarioAxis" xlink:label="srt_StatementScenarioAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementScenarioAxis" xlink:to="srt_StatementScenarioAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementScenarioAxis_lbl" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="srt_ScenarioUnspecifiedDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioUnspecifiedDomain" xlink:to="srt_ScenarioUnspecifiedDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScenarioForecastMember" xlink:label="srt_ScenarioForecastMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioForecastMember" xlink:to="srt_ScenarioForecastMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScenarioForecastMember_lbl" xml:lang="en-US">Scenario Forecast [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_ScenarioForecastMember_lbl" xml:lang="en-US">Scenario Forecast</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_FeesPaidAndRelatedPartyTransactionsLineItems" xlink:to="usl_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US">Fees Paid and Related Party Transactions [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US">Fees Paid And Related Party Transactions [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_FeesPaidAndRelatedPartyTransactionsLineItems_lbl" xml:lang="en-US">FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets" xlink:label="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets" xlink:to="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets_lbl" xml:lang="en-US">Percentage of Management Fee In Average Daily Total Net Assets.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets_lbl" xml:lang="en-US">Percentage of Management Fee in Average Daily Total Net Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PercentageOfManagementFeeInAverageDailyTotalNetAssets_lbl" xml:lang="en-US">Percentage of management fee in average daily total net assets</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InvestmentCompanyRegistrationExpense" xlink:label="us-gaap_InvestmentCompanyRegistrationExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyRegistrationExpense" xlink:to="us-gaap_InvestmentCompanyRegistrationExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyRegistrationExpense_lbl" xml:lang="en-US">Investment Company, Registration Expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyRegistrationExpense_lbl" xml:lang="en-US">Registration fees</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_BaseFeePercentage" xlink:label="usl_BaseFeePercentage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_BaseFeePercentage" xlink:to="usl_BaseFeePercentage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_BaseFeePercentage_lbl" xml:lang="en-US">Percentage of base fee.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_BaseFeePercentage_lbl" xml:lang="en-US">Base Fee Percentage</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_BaseFeePercentage_lbl" xml:lang="en-US">Fee percentage</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherGeneralExpense" xlink:label="us-gaap_OtherGeneralExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US">Other General Expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US">Investor tax reporting cost</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_ContractsAndAgreementsTable" xlink:label="usl_ContractsAndAgreementsTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_ContractsAndAgreementsTable" xlink:to="usl_ContractsAndAgreementsTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_ContractsAndAgreementsTable_lbl" xml:lang="en-US">Disclosure of information about contracts and agreements  or program to be collected after next fiscal year following current fiscal year.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_ContractsAndAgreementsTable_lbl" xml:lang="en-US">Contracts And Agreements [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_ContractsAndAgreementsLineItem" xlink:label="usl_ContractsAndAgreementsLineItem" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_ContractsAndAgreementsLineItem" xlink:to="usl_ContractsAndAgreementsLineItem_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_ContractsAndAgreementsLineItem_lbl" xml:lang="en-US">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.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_ContractsAndAgreementsLineItem_lbl" xml:lang="en-US">Contracts And Agreements [Line Item]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_ContractsAndAgreementsLineItem_lbl" xml:lang="en-US">CONTRACTS AND AGREEMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PercentageOfAverageDailyNetAssets" xlink:label="usl_PercentageOfAverageDailyNetAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PercentageOfAverageDailyNetAssets" xlink:to="usl_PercentageOfAverageDailyNetAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PercentageOfAverageDailyNetAssets_lbl" xml:lang="en-US">Percentage of average daily net assets.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PercentageOfAverageDailyNetAssets_lbl" xml:lang="en-US">Percentage Of Average Daily Net Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_PercentageOfAverageDailyNetAssets_lbl" xml:lang="en-US">Total commissions as annualized percentage of average total net assets</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable" xlink:to="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl" xml:lang="en-US">Long Duration Contracts Assumptions By Product And Guarantee [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeTable_lbl" xml:lang="en-US">Long-Duration Contracts, Assumptions, by Product and Guarantee [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US">Type Of Arrangement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xml:lang="en-US">Arrangements and Non-arrangement Transactions [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_MarketingAgreementMember" xlink:label="usl_MarketingAgreementMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_MarketingAgreementMember" xlink:to="usl_MarketingAgreementMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_MarketingAgreementMember_lbl" xml:lang="en-US">Represents the information relating to marketing agreement.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_MarketingAgreementMember_lbl" xml:lang="en-US">Marketing Agreement [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_MarketingAgreementMember_lbl" xml:lang="en-US">Marketing Agreement</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_GroupFourMember" xlink:label="usl_GroupFourMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_GroupFourMember" xlink:to="usl_GroupFourMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_GroupFourMember_lbl" xml:lang="en-US">Represents the information relating to assets up to three billion.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_GroupFourMember_lbl" xml:lang="en-US">Group Four [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_GroupFourMember_lbl" xml:lang="en-US">USL's assets up to $3 billion</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_GroupFiveMember" xlink:label="usl_GroupFiveMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_GroupFiveMember" xlink:to="usl_GroupFiveMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_GroupFiveMember_lbl" xml:lang="en-US">Represents the information relating to assets in excess of three billion.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_GroupFiveMember_lbl" xml:lang="en-US">Group Five [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_GroupFiveMember_lbl" xml:lang="en-US">USL's assets in excess of $3 billion</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US">Range [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeMember" xlink:label="srt_RangeMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US">Range [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US">Maximum</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MinimumMember" xlink:label="srt_MinimumMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US">Minimum</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems" xlink:to="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl" xml:lang="en-US">Long Duration Contracts Assumptions By Product And Guarantee [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongDurationContractsAssumptionsByProductAndGuaranteeLineItems_lbl" xml:lang="en-US">CONTRACTS AND AGREEMENTS</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_BasisAmountForFeePercentage" xlink:label="usl_BasisAmountForFeePercentage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_BasisAmountForFeePercentage" xlink:to="usl_BasisAmountForFeePercentage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_BasisAmountForFeePercentage_lbl" xml:lang="en-US">Amount of base fee.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_BasisAmountForFeePercentage_lbl" xml:lang="en-US">Basis Amount For Fee Percentage</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_BasisAmountForFeePercentage_lbl" xml:lang="en-US">Base amount for determining fee percentage</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PercentageOfTotalNetAssets" xlink:label="usl_PercentageOfTotalNetAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PercentageOfTotalNetAssets" xlink:to="usl_PercentageOfTotalNetAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PercentageOfTotalNetAssets_lbl" xml:lang="en-US">It's represented of percentage of total net assets.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PercentageOfTotalNetAssets_lbl" xml:lang="en-US">Percentage Of Total Net Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PercentageOfTotalNetAssets_lbl" xml:lang="en-US">Percentage of total net assets</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CommissionsPaid" xlink:label="usl_CommissionsPaid" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CommissionsPaid" xlink:to="usl_CommissionsPaid_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CommissionsPaid_lbl" xml:lang="en-US">Amount of commissions paid.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CommissionsPaid_lbl" xml:lang="en-US">Commissions Paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_CommissionsPaid_lbl" 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</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable" xlink:to="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable_lbl" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable_lbl" xml:lang="en-US">Carrying Amounts And Fair Values Of Financial Instruments Or Liabilities [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesTable_lbl" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FutureMember" xlink:label="us-gaap_FutureMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMember" xlink:to="us-gaap_FutureMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMember_lbl" xml:lang="en-US">Future [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureMember_lbl" xml:lang="en-US">Futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FutureMember_lbl" xml:lang="en-US">Future contracts</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems" xlink:to="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems_lbl" xml:lang="en-US">Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems_lbl" xml:lang="en-US">Carrying Amounts And Fair Values Of Financial Instruments Or Liabilities [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems_lbl" xml:lang="en-US">FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MoneyMarketFundsAtCarryingValue" xlink:label="us-gaap_MoneyMarketFundsAtCarryingValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsAtCarryingValue" xlink:to="us-gaap_MoneyMarketFundsAtCarryingValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsAtCarryingValue_lbl" xml:lang="en-US">Money Market Funds, at Carrying Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MoneyMarketFundsAtCarryingValue_lbl" xml:lang="en-US">Cash investments in money market funds</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_CashDepositsAndInvestmentsInTreasuries" xlink:label="usl_CashDepositsAndInvestmentsInTreasuries" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_CashDepositsAndInvestmentsInTreasuries" xlink:to="usl_CashDepositsAndInvestmentsInTreasuries_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_CashDepositsAndInvestmentsInTreasuries_lbl" xml:lang="en-US">The cash deposits and investments made in treasuries which are held with custodian and futures commission merchant reported as of the period.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_CashDepositsAndInvestmentsInTreasuries_lbl" xml:lang="en-US">Cash deposits and Investments In Treasuries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_CashDepositsAndInvestmentsInTreasuries_lbl" xml:lang="en-US">Cash deposit and investment in treasury</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DerivativeNotionalAmount" xlink:label="us-gaap_DerivativeNotionalAmount" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNotionalAmount" xlink:to="us-gaap_DerivativeNotionalAmount_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DerivativeNotionalAmount_lbl" xml:lang="en-US">Derivative, notional amount</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward" xlink:to="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl" xml:lang="en-US">Increase Decrease In Partners Capital [Roll Forward]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInPartnersCapitalRollForward_lbl" xml:lang="en-US">Per Share Operating Performance:</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_TotalIncomeLossPerUnit" xlink:label="usl_TotalIncomeLossPerUnit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_TotalIncomeLossPerUnit" xlink:to="usl_TotalIncomeLossPerUnit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_TotalIncomeLossPerUnit_lbl" xml:lang="en-US">Total income (loss), per unit.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_TotalIncomeLossPerUnit_lbl" xml:lang="en-US">Total Income Loss Per Unit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_TotalIncomeLossPerUnit_lbl" xml:lang="en-US">Total income (loss)</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_TotalExpensesPerUnit" xlink:label="usl_TotalExpensesPerUnit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_TotalExpensesPerUnit" xlink:to="usl_TotalExpensesPerUnit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_TotalExpensesPerUnit_lbl" xml:lang="en-US">Total expenses, per unit.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_TotalExpensesPerUnit_lbl" xml:lang="en-US">Total Expenses Per Unit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="usl_TotalExpensesPerUnit_lbl" xml:lang="en-US">Total expenses</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_IncreaseDecreaseInNetAssetValuePerUnit" xlink:label="usl_IncreaseDecreaseInNetAssetValuePerUnit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_IncreaseDecreaseInNetAssetValuePerUnit" xlink:to="usl_IncreaseDecreaseInNetAssetValuePerUnit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US">Increase (decrease) in net asset value per unit.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US">Increase Decrease In Net Asset Value Per Unit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_IncreaseDecreaseInNetAssetValuePerUnit_lbl" xml:lang="en-US">Net increase (decrease) in net asset value</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_RateOfReturnOnAverageAsset" xlink:label="usl_RateOfReturnOnAverageAsset" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_RateOfReturnOnAverageAsset" xlink:to="usl_RateOfReturnOnAverageAsset_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US">Rate of return on average asset.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US">Rate Of Return On Average Asset</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_RateOfReturnOnAverageAsset_lbl" xml:lang="en-US">Total Return</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_AverageNetAssetsAbstract" xlink:label="usl_AverageNetAssetsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_AverageNetAssetsAbstract" xlink:to="usl_AverageNetAssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_AverageNetAssetsAbstract_lbl" xml:lang="en-US">No definition available.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_AverageNetAssetsAbstract_lbl" xml:lang="en-US">Average Net Assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_AverageNetAssetsAbstract_lbl" xml:lang="en-US">Ratios to Average Net Assets</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_PercentageOfTotalRevenue" xlink:label="usl_PercentageOfTotalRevenue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_PercentageOfTotalRevenue" xlink:to="usl_PercentageOfTotalRevenue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_PercentageOfTotalRevenue_lbl" xml:lang="en-US">Percentage of total revenue.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_PercentageOfTotalRevenue_lbl" xml:lang="en-US">Percentage Of Total Revenue</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_PercentageOfTotalRevenue_lbl" xml:lang="en-US">Total income (loss)</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_ManagementIncentiveFeePercentage" xlink:label="usl_ManagementIncentiveFeePercentage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_ManagementIncentiveFeePercentage" xlink:to="usl_ManagementIncentiveFeePercentage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US">Management incentive fee percentage.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US">Management Incentive Fee Percentage</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_ManagementIncentiveFeePercentage_lbl" xml:lang="en-US">Management fees</link:label>
    <link:loc xlink:type="locator" xlink:href="usl-20240331.xsd#usl_ExpensesExcludingManagementFeePercentage" xlink:label="usl_ExpensesExcludingManagementFeePercentage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="usl_ExpensesExcludingManagementFeePercentage" xlink:to="usl_ExpensesExcludingManagementFeePercentage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="usl_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US">Expenses, excluding management fee percentage.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="usl_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US">Expenses Excluding Management Fee Percentage</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="usl_ExpensesExcludingManagementFeePercentage_lbl" xml:lang="en-US">Total expenses excluding management fees</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommodityContractMember" xlink:to="us-gaap_CommodityContractMember_lbl" />
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