Key Highlights

  • The fund reported net income of $84,018,427 for August 2026 on total income of $85,182,006.
  • Ending net asset value was $1,790,469,813, or $133.38 per unit, with 13,423,603 units outstanding at month end.
  • A realized futures gain of $115,732,046 was partly offset by an unrealized futures loss of $43,631,350.
  • The fund created 9,000,000 units and redeemed 9,900,000, so net assets fell from $1,847,331,898 at the start of August.

United States Oil Fund, LP (NYSE:USO) furnished a Form 8-K on September 29, 2026 attaching its monthly account statement for the month ended August 31, 2026. The statement reports net income of $84,018,427 for the month and total net asset value of $1,790,469,813 at month-end, with 13,423,603 units outstanding and a net asset value of $133.38 per unit.

The filing was made under Item 7.01 (Regulation FD Disclosure) and Item 9.01 (Financial Statements and Exhibits).

What the Statement Contains

The filing says the fund "issued its monthly account statement for the month ended August 31, 2026, which is presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value." The statement is attached as Exhibit 99.1. The general partner, United States Commodity Funds LLC, signed through Stuart P. Crumbaugh, its Chief Financial Officer. The filing notes that the statement is available on the fund's website, www.uscfinvestments.com, and that the fund's shares trade under the ticker USO on NYSE Arca, Inc.

How the Month's Income Was Built

Exhibit 99.1 breaks down total income of $85,182,006. Realized trading gain on commodity futures was $115,732,046, and realized gain on swap contracts was $8,143,856. Offsetting those were an unrealized loss on the market value of commodity futures of $43,631,350 and an unrealized loss on the fair value of swap contracts of $617,033. The fund also reported dividend income of $2,712,782, interest income of $2,825,955 and ETF transaction fees of $15,750.

Total expenses were $1,163,579. The largest line was general partner management fees of $720,329, followed by professional fees of $206,030, brokerage commissions of $181,337, directors' fees and insurance of $31,873 and license fees of $24,010. Subtracting expenses from total income gives the reported net income of $84,018,427.

Movement in Net Asset Value

The Statement of Changes in Net Asset Value starts with net assets of $1,847,331,898 on August 1, 2026. During the month the fund recorded additions of $1,120,373,514 for 9,000,000 units and withdrawals of $1,261,254,026 for 9,900,000 units. Adding the month's net income of $84,018,427 produces the ending net asset value of $1,790,469,813.

Put simply, more units were redeemed than created during August, which by itself reduced net assets by about $140.9 million, while trading and other income more than partly offset that outflow. Based on the 9,000,000 units created and 9,900,000 units redeemed shown in the statement, the unit count fell by 900,000 over the month, ending at 13,423,603 units. The statement itself presents the per-unit value of $133.38 at month-end and does not include a comparison with the prior month's per-unit value.

A monthly account statement is a summary of income and changes in net assets. The filing also states that the information furnished under Item 7.01 and in the exhibit is not deemed "filed" for purposes of certain securities laws, which is standard wording for furnished rather than filed information.

September's Statement as the Next USO Data Point

The fund's periodic reports with the SEC will contain fuller financial statements, notes and risk discussion than this one-page monthly summary offers, and the fund's website named in the filing carries the statement. Because the statement covers a single calendar month, it shows how income, creations and redemptions combined over August only, and it does not by itself describe any longer trend in the fund's assets.