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CONTRACTS AND AGREEMENTS (Tables)
3 Months Ended
Mar. 31, 2015
Contractors [Abstract]  
Brokerage Commissions
BNO also incurs commissions to brokers for the purchase and sale of Futures Contracts, Other Crude Oil-Related Investments or short-term obligations of the United States of two years or less (“Treasuries”).
 
 
 
For the three months ended
March 31, 2015
 
 
For the three months ended
March 31, 2014
 
Total commissions accrued to brokers
 
$
25,577
 
 
$
4,109
 
Total commissions as an annualized percentage of average net assets
 
 
0.13
%
 
 
0.06
%
Commissions accrued as a result of rebalancing
 
$
22,561
 
 
$
3,702
 
Percentage of commissions accrued as a result of rebalancing
 
 
88.21
%
 
 
90.09
%
Commissions accrued as a result of creation and redemption activity
 
$
3,016
 
 
$
407
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
11.79
%
 
 
9.91
%