8-K: US 12 Month Oil Fund Reports October Net Loss

United States 12 Month Oil Fund, LP reported a net loss of $668,956 for the month ended October 31, 2025, primarily driven by trading losses.

Summary

• The United States 12 Month Oil Fund, LP experienced a net loss of $668,956 for the month ended October 31, 2025.
• This net loss resulted from a total income (loss) of $(633,251) and total expenses of $35,705.
• Trading activities contributed significantly to the loss, with a realized trading loss on commodity futures of $(420,500) and an unrealized loss on market value of commodity futures of $(345,120).
• The fund generated dividend income of $100,527 and interest income of $31,842.
• Net Asset Value (NAV) decreased from $40,825,678 at the beginning of October 2025 to $40,156,722 by the end of the month.
• The Net Asset Value Per Share stood at $34.92 based on 1,150,000 shares outstanding as of October 31, 2025.

Sentiment

Score: 3

Explanation: The fund experienced a net loss for the month, primarily due to negative trading performance in commodity futures, leading to a decrease in Net Asset Value.

Positives

• The fund generated dividend income of $100,527 for the month.
• Interest income contributed $31,842 to the fund's earnings.

Negatives

• The fund reported a net loss of $668,956 for the month ended October 31, 2025.
• Realized trading losses on commodity futures amounted to $(420,500).
• Unrealized losses on the market value of commodity futures totaled $(345,120).
• The Net Asset Value declined by $668,956 from the beginning to the end of the month.

Future Outlook

NA

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer of United States Commodity Funds LLC (the General Partner), represented that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended October 31, 2025, is accurate and complete.

Industry Context

This monthly account statement provides specific performance data for an oil-tracking fund. Its performance is directly tied to the movements in the oil futures market during October 2025. A net loss suggests that the fund's strategy or the underlying oil market performance was negative for the period.

Stakeholder Impact

• Shareholders (Limited Partners) experienced a decrease in the Net Asset Value per share from the beginning to the end of the month due to the net loss.

Key Dates

Keywords

Oil Fund, Commodity Futures, Net Asset Value, Trading Loss, Investment Fund, Energy, Monthly Report, SEC Filing