8-K: US Oil Fund Reports Strong August Performance

United States Oil Fund, LP announced a net income of $84,018,427 for the month ended August 31, 2026, driven by substantial gains in commodity futures and swap contracts.

Summary

• The United States Oil Fund, LP reported a net income of $84,018,427 for the month ended August 31, 2026.
• This performance was primarily driven by realized gains on commodity futures ($115,732,046) and swap contracts ($8,143,856).
• The fund experienced a net decrease in Net Asset Value due to share redemptions, but overall NAV remained strong.
• Total expenses for the period were $1,163,579.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive report, with significant realized gains and a substantial net income, indicating strong performance in the reporting period.

Positives

• Significant realized trading gains on commodity futures totaling $115,732,046.
• Realized gains on swap contracts amounted to $8,143,856.
• Positive net income of $84,018,427 for the month.
• Dividend income of $2,712,782 and interest income of $2,825,955 contributed to overall earnings.
• Net Asset Value per Share remained robust at $133.38 at the end of the month.

Negatives

• Unrealized losses on commodity futures of ($43,631,350) and swap contracts of ($617,033) indicate market value depreciation during the period.
• Significant share withdrawals totaling $1,261,254,026 reduced the Net Asset Value.

Risks

• Unrealized losses on commodity futures and swap contracts suggest potential volatility and market risk.
• The fund's performance is directly tied to the price of oil and related derivatives, which can be highly volatile.

Future Outlook

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

Management Comments

• To the Limited Partners of United States Oil Fund, LP: Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended August 31, 2026 is accurate and complete.

Industry Context

StockSavvy.ai notes that this filing reflects the typical performance reporting for an oil-focused ETF, where significant gains can be realized from commodity price movements, but also exposes the fund to market volatility and potential unrealized losses.

Stakeholder Impact

• Shareholders benefit from the realized gains, contributing to the fund's overall return.
• The net asset value per share is directly impacted by trading performance and share issuance/redemption activity.

Next Steps

• Continued monitoring of commodity futures and swap contract performance.
• Management of Net Asset Value in response to share additions and withdrawals.

Key Dates

Recommendation

The filing shows strong realized gains and a healthy net income, indicating effective trading for the period. However, the presence of significant unrealized losses and substantial share redemptions suggests underlying volatility and investor activity that warrants a cautious 'hold' stance, pending further market developments and fund strategy execution.

Keywords

Oil Fund, Commodity Futures, Swap Contracts, Net Asset Value, Income Statement, Trading Gains, USO