A liquid NYSE-listed commodity fund providing leveraged inverse or directional exposure to 12-month U.S. crude oil price trends through structured financial instruments.
Investors might consider this fund for short-term tactical hedging against inflation spikes when crude oil prices stabilize above historical averages; the NYSE listing provides superior transparency and regulatory oversight compared to over-the-counter commodity vehicles; it offers a pure-play vehicle to capitalize on supply disruptions without physical logistics burdens.
The sharp revenue contraction from $39.4M in 2022 to negative levels by 2025 indicates deteriorating market conditions or failed hedging strategies that could persist; substantial net losses and negative operating cash flow suggest the fund is currently destroying value for shareholders; high sensitivity to oil price fluctuations makes it unsuitable for long-term buy-and-hold portfolios.
United States 12 Month Oil Fund LP is a specialized energy investment vehicle listed on the NYSE that tracks U.S. crude oil price movements over a rolling twelve-month horizon. The fund primarily serves institutional investors and traders seeking direct exposure to commodity markets without holding physical inventory, operating within the broader global energy sector.
Recent financial performance highlights significant volatility with net income dropping from $5.1M in 2024 to -$5.8M in 2025, reflecting the sensitivity of commodity funds to underlying asset price swings. The company reported negative revenue and operating cash flow in 2025 while maintaining a positive cash position, suggesting active management costs are being absorbed by declining asset values or strategy shifts.
The global energy sector faces structural headwinds from the transition to renewables, yet crude oil remains a critical inflation hedge and industrial input. Investors in commodity funds must navigate complex regulatory environments while managing the inherent volatility of supply-demand imbalances that drive price swings year over year.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $39.4M | $551.3K | $5.7M | $-5.3M |
| Cost of Revenue | $0 | $0 | $0 | $0 |
| Gross Profit | $39.4M | $551.3K | $5.7M | $-5.3M |
| Non-Operating Income | $0 | $0 | $0 | $0 |
| Continuing Ops | $38.4M | $-56.5K | $5.1M | $-5.8M |
| Discontinued Ops | $0 | $0 | $0 | $0 |
| Net Income | $38.4M | $-56.5K | $5.1M | $-5.8M |
| Minority Interest | $0 | $0 | $0 | $0 |
| Net to Common | $38.4M | $-56.5K | $5.1M | $-5.8M |
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash & Equivalents | $21.0M | $23.5M | $31.9M | $31.8M |
| Total Assets | $87.2M | $67.2M | $49.6M | $36.8M |
| Total Liabilities | $3.9M | $225.7K | $219.5K | $172.2K |
| Shareholders' Equity | $83.3M | $66.9M | $49.4M | $36.6M |
| Total L&E | $87.2M | $67.2M | $49.6M | $36.8M |
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Net Income (CFO) | $38.4M | $-56.5K | $5.1M | $-5.8M |
| Non-Cash Adjustments | $22.3M | $-1.2M | $-1.4M | $2.7M |
| Working Capital Changes | $-10.9M | $13.6K | $-103.7K | $-100.4K |
| Cash from Operations | $49.7M | $-1.3M | $3.6M | $-3.2M |
| Cash from Investing | $0 | $0 | $0 | $0 |
| Cash from Financing | $-89.2M | $-19.9M | $-22.6M | $-7.0M |
| FX Effect | $0 | $0 | $0 | $0 |
| Net Change in Cash | $-39.5M | $-21.1M | $-19.0M | $-10.2M |
| Beginning Cash | $129.6M | $90.1M | $68.9M | $49.9M |
| Ending Cash | $90.1M | $68.9M | $49.9M | $39.7M |
Crude Oil Price Tracking, Structured Commodity Derivatives, and Energy Market Hedging Solutions tailored for institutional portfolios seeking volatility management or inflation hedging strategies.
Extreme volatility in crude oil prices can lead to rapid capital erosion as seen in the sharp decline from 2024 to 2025; regulatory changes affecting commodity trading could impact operational flexibility; leverage inherent in fund structures amplifies both gains and losses during market stress events.
High liquidity on a major exchange like the NYSE allows for easy entry and exit compared to physical futures contracts; flexible rolling 12-month structure adapts to varying market cycles; low transaction costs relative to private energy partnerships.
Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.