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CONTRACTS AND AGREEMENTS (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018
 
 
For the three months ended
March 31, 2017
 
Total commissions accrued to brokers
 
$
23,732
 
 
$
29,924
 
Total commissions as annualized percentage of average total net assets
 
 
0.10
%
 
 
0.11
%
Commissions accrued as a result of rebalancing
 
$
23,175
 
 
$
29,790
 
Percentage of commissions accrued as a result of rebalancing
 
 
97.65
%
 
 
99.55
%
Commissions accrued as a result of creation and redemption activity
 
$
557
 
 
$
134
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
2.35
%
 
 
0.45
%