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CONTRACTS AND AGREEMENTS (Tables)
 6 Months Ended
Jun. 30, 2017
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 six
months ended
June 30, 2017
 
 
For the six
months ended
June 30, 2016
 
Total commissions accrued to brokers
 
$
67,768
 
 
$
94,468
 
Total commissions as an annualized percentage of average net assets
 
 
0.13
%
 
 
0.17
%
Commissions accrued as a result of rebalancing
 
$
65,397
 
 
$
91,301
 
Percentage of commissions accrued as a result of rebalancing
 
 
96.50
%
 
 
96.65
%
Commissions accrued as a result of creation and redemption activity
 
$
2,371
 
 
$
3,167
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
3.50
%
 
 
3.35
%