United States Oil Fund (NYSE: USO) earns $142M net income in January 2026

Rhea-AI Filing Summary

United States Oil Fund, LP reported net income of $142,056,329 for the month ended January 31, 2026, driven mainly by unrealized gains on commodity futures of $102,857,820 and realized and unrealized gains on swap contracts totaling more than $17,959,356.

Total income was $142,774,321 against modest expenses of $717,992, including general partner management fees of $377,493 and brokerage commissions of $126,934. Net asset value increased from $886,076,412 at the beginning of the month to $1,019,255,679 at month-end, with NAV per share at $78.87 based on 12,923,603 shares.

8-K Event Classification

2 items: 7.01, 9.01

2 items

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 COMMISION

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): February 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 February 27,2026, United States Oil Fund, LP (the “Registrant”) issued its monthly account statement for the month ended January 31, 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:	February 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 January 31, 2026

Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Commodity Futures		$	19,095,030
Realized Gain (Loss) on Swap Contracts			13,693,509
Unrealized Gain (Loss) on Market Value of Commodity Futures			102,857,820
Unrealized gain (loss) on Fair Value of Swap Contracts			4,265,847
Dividend Income			1,882,357
Interest Income			970,658
ETF Transaction Fees			9,100
Total Income (Loss)		$	142,774,321
Expenses
General Partner Management Fees		$	377,493
Professional Fees			140,179
Brokerage Commissions			126,934
Directors' Fees and insurance			60,803
License fees			12,583
Total Expenses		$	717,992
Net Income (Loss)		$	142,056,329

Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 1/1/26		$	886,076,412
Additions (7,500,000 Shares)			537,079,689
Withdrawals (7,400,000 Shares)			(545,956,751	)
Net Income (Loss)			142,056,329
Net Asset Value End of Month		$	1,019,255,679
Net Asset Value Per Share (12,923,603 Shares)		$	78.87

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 January 31, 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

FAQ

How did United States Oil Fund (USO) perform in January 2026?

United States Oil Fund, LP generated strong net income of $142,056,329 for the month ended January 31, 2026. Results were driven mainly by unrealized gains on commodity futures and additional realized and unrealized gains on swap contracts, supported by dividend and interest income.

What were USO’s main income sources in the January 2026 statement?

The largest income source was unrealized gain on commodity futures of $102,857,820. USO also reported realized trading gains on futures, realized and unrealized gains on swap contracts, dividend income of $1,882,357, interest income of $970,658, and ETF transaction fees.

What was United States Oil Fund’s net asset value at January 31, 2026?

Net asset value at month-end was $1,019,255,679. This compares to a beginning-of-month NAV of $886,076,412. The fund reported NAV per share of $78.87, based on 12,923,603 shares outstanding as of January 31, 2026.

How did share activity affect USO’s January 2026 net asset value?

During the month, USO recorded additions of 7,500,000 shares totaling $537,079,689 and withdrawals of 7,400,000 shares totaling $(545,956,751). These capital flows, combined with net income, contributed to the ending net asset value of $1,019,255,679.

What expenses did United States Oil Fund incur in January 2026?

Total expenses were relatively low at $717,992. Key items included general partner management fees of $377,493, professional fees, brokerage commissions of $126,934, directors’ fees and insurance, and license fees. These expenses modestly reduced total income for the month.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 15.5 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.0 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.9 KB