XML 43 R28.htm IDEA: XBRL DOCUMENT v3.24.1.u1

FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES
Cash investments in money market funds	$ 19,630,000	$ 22,130,000
Cash deposit and investment in treasury	39,139,169	$ 46,802,943
Future contracts
FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES
Derivative, notional amount	$ 64,283,050		$ 86,596,780

X

- Definition

Nominal or face amount used to calculate payment on derivative.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A

+ Details

Name:	us-gaap_DerivativeNotionalAmount
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.

+ References

No definition available.

+ Details

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

X

- Definition

Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]

+ References

No definition available.

+ Details

Name:	usl_CarryingAmountsAndFairValuesOfFinancialInstrumentsOrLiabilitiesLineItems
Namespace Prefix:	usl_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The cash deposits and investments made in treasuries which are held with custodian and futures commission merchant reported as of the period.

+ References

No definition available.

+ Details

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

X

- Details

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