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United States Oil Fund (USO) posts February 2026 profit and higher NAV

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(Moderate)
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(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

United States Oil Fund, LP furnished its monthly account statement for the month ended February 28, 2026. The fund reported net income of $46,819,122, driven primarily by a $82,865,320 realized trading gain on commodity futures and a $9,409,647 realized gain on swap contracts, partly offset by unrealized losses.

Total income was $47,526,979 against total expenses of $707,857. Net asset value increased from $1,019,255,679 at the beginning of the month to $1,153,105,889, helped by net capital additions and income. Net asset value per share was $81.64 based on 14,123,603 shares outstanding at month-end.

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Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Understanding 8-K Material Events →
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): March 27, 2026

 

UNITED STATES OIL FUND, LP

(Exact name of registrant as specified in its charter)

 

Delaware 001-32834 20-2830691
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation)   Identification No.)
     
  1850 Mt. Diablo Boulevard, Suite 640  
Walnut Creek, California 94596  
(510) 522-9600 (Address of principal executive offices) (Zip Code)  
Registrant’s telephone number,  
including area code    

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered:
Shares of United States Oil Fund, LP   USO   NYSE Arca, Inc.

 

 

 

 

 

 

Item 7.01. Regulation FD Disclosure.

 

On March 27, 2026, United States Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended February 28, 2026, which is presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required pursuant to Rule 4.22 under the Commodity Exchange Act. A copy of the monthly account statement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and also can be found on the Registrant’s website at www.uscfinvestments.com. The information furnished in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit 99.1

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    UNITED STATES OIL FUND, LP
    By: United States Commodity Funds LLC, its general partner
       
Date: March 27, 2026   By: /s/ Stuart P. Crumbaugh
    Name: Stuart P. Crumbaugh
    Title: Chief Financial Officer

 

 

 

 

Exhibit 99.1

 

United States Oil Fund, LP

Monthly Account Statement

For the Month Ended February 28, 2026

 

Statement of Income (Loss)    
Income     
Realized Trading Gain (Loss) on Commodity Futures  $82,865,320 
Realized Gain (Loss) on Swap Contracts   9,409,647 
Unrealized Gain (Loss) on Market Value of Commodity Futures   (43,200,190)
Unrealized Gain (Loss) on Fair Value of Swap Contracts   (4,562,060)
Dividend Income   1,902,378 
Interest Income   1,103,134 
ETF Transaction Fees   8,750 
Total Income (Loss)  $47,526,979 
      
Expenses     
General Partner Management Fees  $395,102 
Professional Fees   126,614 
Brokerage Commissions   117,844 
Directors' Fees and Insurance   55,127 
License fees   13,170 
Total Expenses  $707,857 
Net Income (Loss)  $46,819,122 

 

Statement of Changes in Net Asset Value    
Net Asset Value Beginning of Month 2/1/26  $1,019,255,679 
Additions (4,400,000 Shares)   338,558,598 
Withdrawals (3,200,000 Shares)   (251,527,510)
Net Income (Loss)   46,819,122 
      
Net Asset Value End of Month  $1,153,105,889 
Net Asset Value Per Share (14,123,603 Shares)  $81.64 

 

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 February 28, 2026 is accurate and complete.

 

/s/ Stuart P. Crumbaugh  
Stuart P. Crumbaugh  

Chief Financial Officer

United States Commodity Funds LLC, General Partner of United States Oil Fund, LP

 

United States Commodity Funds LLC

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, CA 94596

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What net income did United States Oil Fund (USO) generate in February 2026?

United States Oil Fund reported net income of $46,819,122 for the month ended February 28, 2026. This result reflects realized gains on commodity futures and swap contracts, partially offset by unrealized losses on these instruments, along with relatively modest management and operating expenses.

How did United States Oil Fund’s (USO) net asset value change in February 2026?

Net asset value rose from $1,019,255,679 at February 1, 2026 to $1,153,105,889 at month-end. The increase came from net income and net capital additions, as additions exceeded withdrawals during the month according to the Statement of Changes in Net Asset Value.

What was United States Oil Fund’s (USO) NAV per share at February 28, 2026?

Net asset value per share was $81.64 at February 28, 2026, based on 14,123,603 shares outstanding. This per-share figure reflects the fund’s total net asset value divided by the number of shares at month-end, after accounting for income, additions, and withdrawals.

How much trading income did United States Oil Fund (USO) earn from commodity futures in February 2026?

United States Oil Fund recorded a $82,865,320 realized trading gain on commodity futures during February 2026. It also reported a $(43,200,190) unrealized loss on the market value of those futures, highlighting differences between closed positions and the month-end valuation of open contracts.

What were the key expense items for United States Oil Fund (USO) in February 2026?

Total expenses were $707,857, led by $395,102 in general partner management fees. Other expenses included professional fees, brokerage commissions, directors’ fees and insurance, and license fees, all of which together reduced total income to arrive at the reported monthly net income.

How did share activity affect United States Oil Fund’s (USO) net assets in February 2026?

The fund reported $338,558,598 of additions from 4,400,000 shares and $(251,527,510) of withdrawals from 3,200,000 shares. These net capital inflows, combined with net income, contributed to the increase in total net asset value during the month.

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