8-K: US 12 Month Oil Fund Reports Strong July Net Income

United States 12 Month Oil Fund, LP reported a net income of $3.18 million for July 2025, driven by significant unrealized gains on commodity futures.

Summary

• Net Income for July 2025 was $3,178,994.
• Total Income for the month was $3,220,700, primarily from an unrealized gain of $3,334,225 on commodity futures.
• Realized trading losses on commodity futures amounted to $(265,858).
• Dividend income was $102,002 and interest income was $50,331.
• Total expenses for the month were $41,706, including $22,240 for General Partner Management Fees.
• Net Asset Value (NAV) increased from $42,228,520 at the beginning of July to $45,407,514 at month-end.
• NAV per share was $37.84 based on 1,200,000 shares.

Sentiment

Score: 8

Explanation: The fund reported strong net income and a significant increase in Net Asset Value, driven by substantial unrealized gains on commodity futures, indicating a very positive month despite some realized losses.

Positives

• Significant net income of $3,178,994 for July 2025.
• Strong unrealized gain of $3,334,225 on the market value of commodity futures.
• Net Asset Value increased by over $3.1 million during the month, from $42,228,520 to $45,407,514.
• Positive dividend income of $102,002 and interest income of $50,331.

Negatives

• Realized trading losses on commodity futures amounted to $(265,858).

Future Outlook

NA

Management Comments

• To the best of his knowledge and belief, the information contained in the Account Statement for the month ended July 31, 2025 is accurate and complete.

Industry Context

This monthly report provides a snapshot of the fund's performance within the commodity futures market, specifically oil. The significant unrealized gains suggest a favorable movement in oil prices or the fund's positions during July 2025, aligning with potential upward trends in the broader energy sector or specific commodity markets.

Stakeholder Impact

• Shareholders: Experienced an increase in Net Asset Value per share, indicating positive returns for the month.

Key Dates

Recommendation

The United States 12 Month Oil Fund reported strong monthly performance with significant net income and an increase in Net Asset Value, primarily driven by unrealized gains in commodity futures. This indicates a favorable short-term market position. However, without a broader context of long-term performance, market trends, and the fund's strategy against potential volatility in oil prices, a 'hold' recommendation is appropriate. Investors should monitor future reports and market conditions for sustained performance.

Keywords

Oil Fund, Commodity Futures, Net Asset Value, USL, Energy ETF, Investment Fund, Monthly Report, Financial Performance