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CONTRACTS AND AGREEMENTS (Tables)
 12 Months Ended
Dec. 31, 2016
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 Year
 
 
For the Year
 
 
For the Year
 
 
 
Ended
 
 
Ended
 
 
Ended
 
 
 
December 31, 2016
 
 
December 31, 2015
 
 
December 31, 2014
 
Total commissions accrued to brokers
 
$
165,409
 
 
$
114,922
 
 
$
27,058
 
Total commissions as annualized percentage of average total net assets
 
 
0.15
%
 
 
0.12
%
 
 
0.07
%
Commissions accrued as a result of rebalancing
 
$
160,817
 
 
$
107,744
 
 
$
24,246
 
Percentage of commissions accrued as a result of rebalancing
 
 
97.22
%
 
 
93.75
%
 
 
89.61
%
Commissions accrued as a result of creation and redemption activity
 
$
4,592
 
 
$
7,178
 
 
$
2,812
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
2.78
%
 
 
6.25
%
 
 
10.39
%