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CONTRACTS AND AGREEMENTS (Tables)
 6 Months Ended
Jun. 30, 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 six months

‎
ended

‎
June 30, 2018
 
 
For the six months

‎
ended

‎
June 30, 2017
 
Total commissions accrued to brokers
 
$
48,093
 
 
$
67,768
 
Total commissions as annualized percentage of average total net assets
 
 
0.10
%
 
 
0.13
%
Commissions accrued as a result of rebalancing
 
$
46,242
 
 
$
65,397
 
Percentage of commissions accrued as a result of rebalancing
 
 
96.15
%
 
 
96.50
%
Commissions accrued as a result of creation and redemption activity
 
$
1,851
 
 
$
2,371
 
Percentage of commissions accrued as a result of creation and redemption activity
 
 
3.85
%
 
 
3.50
%