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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2012
Fair Value Disclosures [Abstract] |
Fair Value, Measurement Inputs, Disclosure [Table Text Block] | The following table summarizes the valuation of USBO’s securities at December 31, 2012 using the fair value hierarchy:
At December 31, 2012 |  | Total |  |  | Level I |  |  | Level II |  |  | Level III |
Short-Term Investments |  | $ | 40,715,676 |  |  | $ | 40,715,676 |  |  | $ | — |  |  | $ | — |
Exchange-Traded Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Contracts |  |  | 739,330 |  |  |  | 739,330 |  |  |  | — |  |  |  | — |
During the year ended December 31, 2012, there were no transfers between Level I and Level II. The following table summarizes the valuation of USBO’s securities at December 31, 2011 using the fair value hierarchy:
At December 31, 2011 |  | Total |  |  | Level I |  |  | Level II |  |  | Level III |
Short-Term Investments |  | $ | 19,346,002 |  |  | $ | 19,346,002 |  |  | $ | — |  |  | $ | — |
Exchange-Traded Futures Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Contracts |  |  | (916,570 | ) |  |  | (916,570 | ) |  |  | — |  |  |  | — |
During the year ended December 31, 2011, there were no significant transfers between Level I and Level II.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Fair Value of Derivative Instruments
Derivatives not Accounted for as Hedging Instruments |  | Statements of Financial Condition Location |  | Fair Value At December 31, 2012 |  |  | Fair Value At December 31, 2011 |
Futures - Commodity Contracts |  | Assets |  | $ | 739,330 |  |  | $ | (916,570 | )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The Effect of Derivative Instruments on the Statements of Operations
|  |  |  | For the year ended December 31, 2012 |  |  | For the year ended December 31, 2011 |  |  | For the year ended December 31, 2010* |
Derivatives not Accounted for as Hedging Instruments |  | Location of Gain or (Loss) on Derivatives Recognized in Income |  | Realized Gain or (Loss) on Derivatives Recognized in Income |  |  | Change in Unrealized Gain or (Loss) on Derivatives Recognized in Income |  |  | Realized Gain or (Loss) on Derivatives Recognized in Income |  |  | Change in Unrealized Gain or (Loss) on Derivatives Recognized in Income |  |  | Realized Gain or (Loss) on Derivatives Recognized in Income |  |  | Change in Unrealized Gain or (Loss) on Derivatives Recognized in Income |
Futures- Commodity Contracts |  | Realized gain on closed positions |  | $ | 3,239,910 |  |  |  |  |  |  | $ | 8,052,950 |  |  |  |  |  |  | $ | 2,352,020 |  |  |  |  |
|  | Change in unrealized gain (loss) on open positions |  |  |  |  |  | $ | 1,655,900 |  |  |  |  |  |  | $ | (1,239,230 | ) |  |  |  |  |  | $ | 322,660 |
| * | The commencement of operations of the United States Brent Oil Fund, LP was June 2, 2010.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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