Welcome to our dedicated page for United States Oil Fund, LP SEC filings (Ticker: USO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
United States Oil Fund, LP filings document fund reporting for shares of USO listed on NYSE Arca. Form 8-K disclosures furnish recurring monthly account statements presented as Statements of Income (Loss) and Statements of Changes in Net Asset Value under Rule 4.22 of the Commodity Exchange Act.
The filing record also includes annual financial statements and audited Statements of Financial Condition for United States Commodity Funds LLC, the fund's general partner. These documents cover NAV activity, fund results, listing information, general-partner financial condition, and related commodity-fund reporting obligations.
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.
United States Oil Fund, LP filed a report furnishing the audited statements of financial condition of its general partner, United States Commodity Funds LLC (USCF), as of December 31, 2025 and 2024. USCF reported total assets of $6.7 million and member’s equity of $5.1 million at year-end 2025, down modestly from $7.1 million in assets and $5.3 million in equity a year earlier. Cash and cash equivalents were $1.5 million, and investments at fair value were $2.4 million, almost entirely Level 1 money market funds. Management fees receivable from the commodity funds totaled $1.2 million in 2025, with the largest exposures to USO and UNG. The audit opinion from BPM LLP is unqualified, though it highlights a critical audit matter around legal loss contingencies, as USCF and related entities are involved in multiple ongoing legal proceedings and past SEC/CFTC settlements, with no accrual recorded and potential outcomes that could materially affect results. The notes also describe an office lease extension in Walnut Creek through March 2028 and disclose dividends of $450,000 and $400,000 paid to the parent in early 2026.
United States Oil Fund, LP (USO) is a Delaware commodity pool whose shares trade on NYSE Arca and are designed to track, in percentage terms, daily moves in a benchmark NYMEX light, sweet crude oil futures contract, plus interest on collateral, less expenses.
USO targets the average daily percentage change in its net asset value over 30 valuation days to be within ±10% of the same measure for its Benchmark Oil Futures Contract. It primarily holds crude oil futures and other oil-related derivatives, supported by U.S. Treasuries, cash and cash equivalents for margin and collateral.
Shares are created and redeemed only in 100,000‑share baskets by authorized participants at net asset value, while public investors trade shares intraday on the exchange. As of June 30, 2025, non‑affiliate-held shares had an aggregate market value of $1,226,307,166, and there were 14,823,603 shares outstanding as of February 23, 2026.
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.
United States Oil Fund, LP filed a current report to share its monthly account statement for the month ended December 31, 2025. The statement, prepared under Commodity Exchange Act Rule 4.22, includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value.
This information is furnished as Exhibit 99.1 and is also available on the fund’s website at www.uscfinvestments.com. The report specifies that this information is furnished, not filed, so it is not automatically subject to certain Securities Exchange Act liabilities or incorporated into other securities law filings.
United States Oil Fund, LP (USO) has updated its prospectus to lower the transaction fee that Authorized Participants pay when creating or redeeming share baskets. Effective January 1, 2026, the fee per order will be reduced from $1,000 to $350, regardless of how many Creation Baskets or Redemption Baskets are included in a single order.
USO continues to offer a best-efforts, continuous offering of Creation Baskets, each consisting of 100,000 shares, through its Marketing Agent to Authorized Participants. The Marketing Agent’s fee remains equal to 0.025% of USO’s total net assets and is paid by United States Commodity Funds, LLC. Total distribution-related compensation to the Marketing Agent and any USCF affiliate may not exceed 10% of the gross proceeds of the offering.
United States Oil Fund, LP reported that it has furnished its monthly account statement for the month ended November 30, 2025. The statement is presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under Rule 4.22 of the Commodity Exchange Act.
The monthly account statement is attached as Exhibit 99.1 and is also available on the fund’s website at www.uscfinvestments.com. The information in this report, including the exhibit, is being furnished under Regulation FD and is not treated as filed for liability purposes under the Securities Exchange Act.
United States Oil Fund, LP filed a current report to announce that it has released its monthly account statement for the month ended October 31, 2025. The statement, prepared in line with Rule 4.22 under the Commodity Exchange Act, includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, giving investors a view of the fund’s performance and changes in value for October.
The monthly account statement is furnished as Exhibit 99.1 and is also available on the sponsor’s website at www.uscfinvestments.com. The information is being furnished under Regulation FD, meaning it is provided for disclosure purposes and is not considered filed for liability or incorporation into other securities law filings unless specifically referenced.
United States Oil Fund (USO) updated its prospectus to shorten its monthly roll of oil futures. Beginning in January 2026, USO will transition its Benchmark Oil Futures Contract over a five-day period at the start of each month, instead of the current ten-day period used through December 31, 2025.
The fund’s benchmark and investment objective remain unchanged. The roll will continue to occur at the beginning of each month, proportionally relative to total net assets, shifting from the near-month NYMEX light, sweet crude oil contract to the next-month contract over each day of the roll window.
Operationally, USO has targeted rebalancing about 10% per day during ten-day rolls through year-end 2025, and will target about 20% per day during the five-day rolls starting January 1, 2026. USO notes it may adjust the roll or rebalance approach in response to market conditions, regulatory requirements, or risk mitigation measures. Anticipated roll start dates are posted on its website and may change without notice.
United States Oil Fund, LP (USO) filed its 10‑Q and reported net income of $23,463,970 for the three months ended September 30, 2025, compared to a loss a year ago. NAV per share was $73.58 and market price $73.75 at quarter‑end. Total assets were $902,868,205, with partners’ capital of $884,669,387 and 12,023,603 limited partners’ shares outstanding.
USO held 11,962 NYMEX WTI November 2025 futures (notional $748,138,130) with an unrealized loss of $2,068,190, and OTC swaps with $138,588,321 notional and a $91,039 unrealized gain. Cash and cash equivalents included $675,000,000 in money market funds. For the nine months, USO recorded a net loss of $9,194,977, generated $28,174,943 from operating activities, and used $134,372,942 in financing activities. In litigation, on September 29, 2025 a federal court granted defendants’ motion to dismiss a consolidated securities class action without prejudice; prior SEC/CFTC orders in 2021 required aggregate $2,500,000 civil penalties.