United States 12 Month Oil Fund, LPUSL
What United States 12 Month Oil Fund, LP does.
The United States 12 Month Oil Fund, LP (“USL”) is a Delaware limited partnership organized on June 27, 2007. USL maintains its main business office at 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California 94596. USL is a commodity pool that issues limited partnership interests (“shares”) traded on the NYSE Arca, Inc. (the “NYSE Arca”). USL’s shares began trading on December 6, 2007. It operates pursuant to the terms of the Third Amended and Restated Agreement of Limited Partnership dated as of December 15, 2017 (as amended from time to time, the “LP Agreement”), which grants full management control to its general partner, United States Commodity Funds LLC (“USCF”).
The investment objective of USL is for the daily changes in percentage terms of its per share net asset value (“NAV”) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the average of the prices of specified short-term futures contracts on light, sweet crude oil called the “Benchmark Oil Futures Contracts,” plus interest earned on USL’s collateral holdings, less USL’s expenses. The Benchmark Oil Futures Contracts are the futures contracts on light, sweet crude oil as traded on the New York Mercantile Exchange (the “NYMEX”) that is the near month contract to expire and the contracts for the following 11 months, for a total of 12 consecutive months’ contracts, except when the near month contract is within two weeks of expiration, in which case it will be the futures contract that is the next month contract to expire and the contracts for the following 11 consecutive months. When calculating the daily movement of the average price of the 12 contracts, each contract month is equally weighted.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $110.3M | $94.9M | $39.4M | $551,333 | $5.7M | -$5.3M |
| Net income | $108.7M | $93.3M | $38.4M | -$56,520 | $5.1M | -$5.8M |
More on USL.
- United States 12 Month Oil Fund, LP summary
- United States 12 Month Oil Fund, LP financial statements
- United States 12 Month Oil Fund, LP key metrics
- United States 12 Month Oil Fund, LP health scores and style box
- United States 12 Month Oil Fund, LP earnings
- United States 12 Month Oil Fund, LP dividends
- United States 12 Month Oil Fund, LP valuation
- United States 12 Month Oil Fund, LP ownership and insiders
- United States 12 Month Oil Fund, LP peers
Figures from United States 12 Month Oil Fund, LP's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.