8-K: US 12 Month Oil Fund Reports June 2026 Results

United States 12 Month Oil Fund, LP has released its monthly account statement for June 2026, detailing a net loss of $6,084,012.

Summary

• The United States 12 Month Oil Fund, LP reported its monthly account statement for the period ending June 30, 2026.
• The fund experienced a total income loss of $(6,042,163) for the month.
• Total expenses for the month amounted to $41,849.
• The net loss for the month was $(6,084,012).
• Net asset value decreased from $54,024,343 at the beginning of the month to $40,571,887 at the end of the month.
• Withdrawals by limited partners totaled $7,368,444.
• The net asset value per share was $45.08 as of June 30, 2026, based on 900,000 shares.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to the significant net loss and unrealized losses reported for the month, despite some realized gains.

Positives

• The fund generated $2,094,902 in realized trading gains on commodity futures.
• Dividend income of $107,859 and interest income of $28,732 were recorded.
• The net asset value per share remains at $45.08, indicating a stable per-share value despite overall NAV decrease.

Negatives

• The fund incurred an unrealized loss of $(8,274,706) on the market value of commodity futures.
• Total income (loss) for the month was a significant $(6,042,163).
• The net loss for the month was $(6,084,012).
• Net asset value decreased by over $13 million during the month.
• Limited partners withdrew $7,368,444 from the fund.

Risks

• Significant unrealized losses on commodity futures positions can negatively impact future realized gains and overall fund performance.
• Market volatility in commodity futures can lead to substantial fluctuations in net asset value.
• Withdrawals by limited partners can reduce the overall asset base of the fund.

Future Outlook

No specific forward-looking statements or guidance were provided in this monthly account statement filing.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer, represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended June 30, 2026 is accurate and complete.

Industry Context

StockSavvy.ai notes that this filing reflects the typical volatility associated with commodity-focused funds, particularly those exposed to oil futures. The significant unrealized losses highlight the sensitivity of such funds to market price swings, a common characteristic in the energy sector.

Stakeholder Impact

• Shareholders (Limited Partners) are directly impacted by the decrease in net asset value and the net loss, reducing the overall value of their investment.
• The fund's ability to meet future obligations or distribute gains may be affected by the current financial performance.

Key Dates

Recommendation

The filing shows a significant monthly loss driven by unrealized futures positions, which is concerning. However, the realized gains and stable NAV per share suggest some underlying operational stability. A 'hold' recommendation is appropriate pending further performance trends and market conditions, as the fund's strategy inherently involves volatility.

Keywords

Commodity Futures, Oil Fund, Statement of Income, Net Asset Value, Trading Gain, Unrealized Loss, Limited Partners, Monthly Statement