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CONTRACTS AND AGREEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
CONTRACTS AND AGREEMENTS |
Schedule of 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 Ended |  | For the Year Ended |  | For the Year Ended |
|  | December 31, 2019 |  | December 31, 2018 |  | December 31, 2017 |
Total commissions accrued to brokers |  | $ | 101,742 |  | $ | 98,880 |  | $ | 132,707 |
Total commissions as annualized percentage of average total net assets |  |  | 0.12 | % |  | 0.10 | % |  | 0.13 | %
Commissions accrued as a result of rebalancing |  | $ | 99,885 |  | $ | 95,188 |  | $ | 127,847 |
Percentage of commissions accrued as a result of rebalancing |  |  | 98.17 | % |  | 96.27 | % |  | 96.34 | %
Commissions accrued as a result of creation and redemption activity |  | $ | 1,857 |  | $ | 3,692 |  | $ | 4,860 |
Percentage of commissions accrued as a result of creation and redemption activity |  |  | 1.83 | % |  | 3.73 | % |  | 3.66 | %

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