United States Natural Gas Fund (UNG) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 23, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	United States Natural Gas Fund, LP
Entity Central Index Key	1,376,227
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	UNG
Entity Public Float			$ 621,949,415
Entity Common Stock, Shares Outstanding		69,066,476

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents (Notes 2 and 5)	$ 453,830,484	$ 589,867,333
Equity in trading accounts:
Cash and cash equivalents	24,941,552	226,160,966
Unrealized gain (loss) on open commodity futures contracts	101,409,342	(167,811,783)
Receivable for shares sold	0	3,239,154
Dividends receivable	742	7,407
Directors' fees and insurance receivable	26,732	17,361
Prepaid registration fees	592,590	650,697
ETF transaction fees receivable	2,000	0
Total assets	580,803,442	652,131,135
Liabilities and Partners' Capital
Payable due to Broker	40,863,950	0
Payable for shares redeemed	23,460,624	0
General Partner management fees payable (Note 3)	249,954	364,245
Professional fees payable	1,150,398	1,312,648
Brokerage commissions payable	83,750	72,750
License fees payable	21,886	27,913
Total liabilities	$ 65,830,562	$ 1,777,556
Commitments and Contingencies (Notes 3, 4 and 5)
Partners' Capital
General Partner	$ 0	$ 0
Limited Partners	514,972,880	650,353,579
Total Partners' Capital	514,972,880	650,353,579
Total liabilities and partners' capital	$ 580,803,442	$ 652,131,135
Limited Partners' shares outstanding	59,266,476	44,466,476
Net asset value per share	$ 8.69	$ 14.63
Market value per share	$ 8.67	$ 14.77

Schedule of Investments

Schedule of Investments	Dec. 31, 2015USD ($)Number		Dec. 31, 2014USD ($)Number
Unrealized Gain (Loss) on Open Commodity Futures Contracts	$ 101,409,342		$ (167,811,783)
Open Futures Contracts, Long [Member] | United States [Member] | ICE Natural Gas Futures LD1 H February 2016 contracts, expiring February 2016 [Member]
Number of Contracts | Number	20,000
Unrealized Gain (Loss) on Open Commodity Futures Contracts	$ 23,131,500
% of Partners' Capital	4.49%
Open Futures Contracts, Long [Member] | United States [Member] | NYMEX Natural Gas Futures NG February 2016 contracts, expiring January 2016 [Member]
Number of Contracts | Number	17,036
Unrealized Gain (Loss) on Open Commodity Futures Contracts	$ 78,277,842
% of Partners' Capital	15.20%
Open Futures Contracts, Long [Member] | United States [Member] | ICE Natural Gas Futures LD1 H February 2015 contracts, expiring January 2015 [Member]
Number of Contracts | Number			31,872
Unrealized Gain (Loss) on Open Commodity Futures Contracts			$ (64,631,417)
% of Partners' Capital			(9.94%)
Open Futures Contracts, Long [Member] | United States [Member] | NYMEX Natural Gas Futures NG February 2015 contracts, expiring January 2015 [Member]
Number of Contracts | Number			14,545
Unrealized Gain (Loss) on Open Commodity Futures Contracts			$ (103,180,366)
% of Partners' Capital			(15.86%)
Total Open Futures Contracts [Member] | Open Futures Contracts, Long [Member] | United States [Member]
Number of Contracts | Number	37,036	[1]	46,417	[2]
Unrealized Gain (Loss) on Open Commodity Futures Contracts	$ 101,409,342	[1]	$ (167,811,783)	[2]
% of Partners' Capital	19.69%	[1]	(25.80%)	[2]
Cash Equivalents [Member] | United States [Member]
Market Value	$ 411,698,465		$ 520,470,896
% of Partners' Capital	79.95%		80.03%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member]
Market Value	$ 381,698,465		$ 249,965,145
% of Partners' Capital	74.12%		38.44%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | U.S. Treasury Bill 0.19%, 2/04/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,995,632
% of Partners' Capital	4.86%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.22%, 2/11/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,993,879
% of Partners' Capital	4.85%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.20%, 2/18/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,993,333
% of Partners' Capital	4.85%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.20%, 2/25/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,992,552
% of Partners' Capital	4.85%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.26%, 3/10/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,987,781
% of Partners' Capital	4.85%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.09%, 3/24/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,995,101
% of Partners' Capital	4.85%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.07%, 3/31/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,996,750
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.07%, 4/07/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,996,228
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.07%, 4/14/2016 [Member]
Principal Amount	$ 25,000,000
Market Value	$ 24,995,306
% of Partners' Capital	4.86%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.11%, 4/21/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,993,217
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | U.S. Treasury Bill 0.21%, 4/28/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,986,233
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.33%, 5/12/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,975,800
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.31%, 5/19/2016 [Member]
Principal Amount	$ 20,000,000
Market Value	$ 19,976,061
% of Partners' Capital	3.88%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.35%, 5/26/2016 [Member]
Principal Amount	$ 17,000,000
Market Value	$ 16,975,870
% of Partners' Capital	3.30%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.43%, 6/02/2016 [Member]
Principal Amount	$ 15,000,000
Market Value	$ 14,972,906
% of Partners' Capital	2.91%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.52%, 6/09/2016 [Member]
Principal Amount	$ 15,000,000
Market Value	$ 14,965,333
% of Partners' Capital	2.91%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | US Treasury Bills 0.47%, 6/30/2016 [Member]
Principal Amount	$ 40,000,000
Market Value	$ 39,906,483
% of Partners' Capital	7.75%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | U.S. Treasury Bill 0.05%, 2/26/2015 [Member]
Principal Amount			$ 50,000,000
Market Value			$ 49,996,500
% of Partners' Capital			7.69%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | U.S. Treasury Bill 0.04%, 3/26/2015 [Member]
Principal Amount			$ 50,000,000
Market Value			$ 49,995,916
% of Partners' Capital			7.69%
Cash Equivalents [Member] | United States [Member] | US Treasury Securities [Member] | U.S. Treasury Bill 0.06%, 4/30/2015 [Member]
Principal Amount			$ 150,000,000
Market Value			$ 149,972,729
% of Partners' Capital			23.06%
Cash Equivalents [Member] | United States [Member] | Money Market Funds [Member]
Market Value	$ 30,000,000		$ 270,505,751
% of Partners' Capital	5.83%		41.59%
Cash Equivalents [Member] | United States [Member] | Money Market Funds [Member] | Goldman Sachs Financial Square Funds - Government Fund - Class FS [Member]
Principal Amount	$ 10,000,000		$ 8,087
Market Value	$ 10,000,000		$ 8,087
% of Partners' Capital	1.94%		0.00%	[3]
Cash Equivalents [Member] | United States [Member] | Money Market Funds [Member] | Morgan Stanley Institutional Liquidity Funds - Government Portfolio [Member]
Principal Amount	$ 20,000,000		$ 200,495,952
Market Value	$ 20,000,000		$ 200,495,952
% of Partners' Capital	3.89%		30.83%
Cash Equivalents [Member] | United States [Member] | Money Market Funds [Member] | Wells Fargo Advantage Government Money Market Fund - Class I [Member]
Principal Amount			$ 70,001,712
Market Value			$ 70,001,712
% of Partners' Capital			10.76%
[1]	Collateral amounted to $24,941,552 on open future contracts.
[2]	Collateral amounted to $226,156,153 on open future contracts.
[3]	Represents less than 0.005%.

Schedule of Investments (Parent

Schedule of Investments (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Swap transaction as a percentage of total asset		0.005%
Collateral Amount On Open Futures Contracts	$ 24,941,552	$ 226,156,153
United States [Member] | U.S. Treasury Bill, 0.19%, 2/04/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.19%
Expiration date	2/04/2016
United States [Member] | U.S. Treasury Bill, 0.22%, 2/11/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.22%
Expiration date	2/11/2016
United States [Member] | U.S. Treasury Bill, 0.20%, 2/18/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.20%
Expiration date	2/18/2016
United States [Member] | U.S. Treasury Bill, 0.20%, 2/25/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.20%
Expiration date	2/25/2016
United States [Member] | US Treasury Bills 0.26%, 3/10/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.26%
Expiration date	3/10/2016
United States [Member] | US Treasury Bills 0.09%, 3/24/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.09%
Expiration date	3/24/2016
United States [Member] | U.S. Treasury Bill, 0.07%, 3/31/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.07%
Expiration date	3/31/2016
United States [Member] | US Treasury Bills 0.07%, 4/07/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.07%
Expiration date	4/07/2016
United States [Member] | U.S. Treasury Bill, 0.07%, 4/14/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.07%
Expiration date	4/14/2016
United States [Member] | U.S. Treasury Bill, 0.11%, 4/21/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.11%
Expiration date	4/21/2016
United States [Member] | U.S. Treasury Bill 0.21%, 4/28/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.21%
Expiration date	4/28/2016
United States [Member] | US Treasury Bills 0.33%, 5/12/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.33%
Expiration date	5/12/2016
United States [Member] | US Treasury Bills 0.31%, 5/19/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.31%
Expiration date	5/19/2016
United States [Member] | US Treasury Bills 0.35%, 5/26/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.35%
Expiration date	5/26/2016
United States [Member] | US Treasury Bills 0.43%, 6/02/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.43%
Expiration date	6/02/2016
United States [Member] | US Treasury Bills 0.52%, 6/09/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.52%
Expiration date	6/09/2016
United States [Member] | US Treasury Bills 0.47%, 6/30/2016 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate	0.47%
Expiration date	6/30/2016
United States [Member] | U.S. Treasury Bill 0.05%, 2/26/2015 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate		0.05%
Expiration date		2/26/2015
United States [Member] | U.S. Treasury Bill 0.04%, 3/26/2015 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate		0.04%
Expiration date		3/26/2015
United States [Member] | U.S. Treasury Bill 0.06%, 4/30/2015 [Member] | US Treasury Securities [Member] | Cash Equivalents [Member]
Interest rate		0.06%
Expiration date		4/30/2015

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gain (loss) on trading of commodity futures contracts:
Realized gain (loss) on closed futures contracts	$ (507,207,439)	$ (47,954,734)	$ 155,734,315
Realized gain (loss) on closed swap contracts	0	25,690,444	13,643,971
Change in unrealized gain (loss) on open futures contracts	269,221,125	(153,777,873)	562,933
Change in unrealized gain (loss) on open swap contracts	0	6,654,820	(3,183,881)
Dividend income	64,640	88,541	126,075
Interest income	340,320	186,989	200,251
ETF transaction fees	156,000	235,000	224,000
Total income (loss)	(237,425,354)	(168,876,813)	167,307,664
Expenses
General Partner management fees (Note 3)	3,645,561	4,336,707	5,737,913
Professional fees	1,109,436	1,395,991	1,725,246
Brokerage commissions	2,371,433	2,001,949	2,400,039
Directors' fees and insurance	118,994	191,887	199,863
License fees	91,139	108,418	143,884
Registration fees	379,106	238,716	850
Total expenses	7,715,669	8,273,668	10,207,795
Net income (loss)	$ (245,141,023)	$ (177,150,481)	$ 157,099,869
Net income (loss) per limited partnership share	$ (5.94)	$ (5.96)	$ 1.72
Net income (loss) per weighted average limited partnership share	$ (4.98)	$ (5.51)	$ 3.21
Weighted average limited partnership shares outstanding	49,197,161	32,150,038	48,892,503

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	General Partner [Member]	Limited Partners [Member]
Balances at Dec. 31, 2012	$ 1,186,272,656	$ 0	$ 1,186,272,656
Addition of partnership shares	2,206,756,302	0	2,206,756,302
Redemption of partnership shares	(2,611,746,663)	0	(2,611,746,663)
Net income (loss)	157,099,869	0	157,099,869
Balances at Dec. 31, 2013	$ 938,382,164	0	938,382,164
Net asset value, beginning of year at Dec. 31, 2012	$ 18.87
Net asset value, end of year at Dec. 31, 2013	$ 20.59
Addition of partnership shares	$ 3,030,504,891	0	3,030,504,891
Redemption of partnership shares	(3,141,382,995)	0	(3,141,382,995)
Net income (loss)	(177,150,481)	0	(177,150,481)
Balances at Dec. 31, 2014	$ 650,353,579	0	650,353,579
Net asset value, end of year at Dec. 31, 2014	$ 14.63
Addition of partnership shares	$ 1,622,768,501	0	1,622,768,501
Redemption of partnership shares	(1,513,008,177)	0	(1,513,008,177)
Net income (loss)	(245,141,023)	0	(245,141,023)
Balances at Dec. 31, 2015	$ 514,972,880	$ 0	$ 514,972,880
Net asset value, end of year at Dec. 31, 2015	$ 8.69

Statements of Changes in Partn7

Statements of Changes in Partners' Capital (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Addition of partnership units	130,000,000	133,400,000	112,900,000
Redemption of partnership units	115,200,000	134,500,000	130,200,000

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net income (loss)	$ (245,141,023)	$ (177,150,481)	$ 157,099,869
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Increase) decrease in commodity futures trading account - cash and cash equivalents	201,219,414	(202,013,387)	120,655,920
Unrealized (gain) loss on open futures contracts	(269,221,125)	153,777,873	(562,933)
Unrealized (gain) loss on open swap contracts	0	(6,654,820)	3,183,881
(Increase) decrease in dividends receivable	6,665	1,173	7,776
(Increase) decrease in directors' fees and insurance receivable	(9,371)	(10,902)	(4,908)
(Increase) decrease in prepaid registration fees	58,107	(650,697)	0
(Increase) decrease in ETF transaction fees receivable	(2,000)	4,000	(2,000)
Increase (decrease) in investment payable	40,863,950	0	0
Increase (decrease) in General Partner management fees payable	(114,291)	(109,302)	(111,873)
Increase (decrease) in professional fees payable	(162,250)	(141,758)	(148,477)
Increase (decrease) in brokerage commissions payable	11,000	(9,000)	(40,500)
Increase (decrease) in license fees payable	(6,027)	(8,622)	(9,665)
Increase (decrease) in registration fees payable	0	0	(153)
Net cash provided by (used in) operating activities	(272,496,951)	(232,965,923)	280,066,937
Cash Flows from Financing Activities:
Addition of partnership shares	1,626,007,655	3,186,658,005	2,066,371,800
Redemption of partnership shares	(1,489,547,553)	(3,156,270,357)	(2,654,503,851)
Net cash provided by (used in) financing activities	136,460,102	30,387,648	(588,132,051)
Net Increase (Decrease) in Cash and Cash Equivalents	(136,036,849)	(202,578,275)	(308,065,114)
Cash and Cash Equivalents, beginning of year	589,867,333	792,445,608	1,100,510,722
Cash and Cash Equivalents, end of year	$ 453,830,484	$ 589,867,333	$ 792,445,608

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 - ORGANIZATION AND BUSINESS The United States Natural Gas Fund, LP (“UNG”) was organized as a limited partnership under the laws of the state of Delaware on September 11, 2006. UNG is a commodity pool that issues limited partnership shares (“shares”) that may be purchased and sold on the NYSE Arca, Inc. (the “NYSE Arca”). Prior to November 25, 2008, UNG’s shares traded on the American Stock Exchange (the “AMEX”). UNG will continue in perpetuity, unless terminated sooner upon the occurrence of one or more events as described in its Fourth Amended and Restated Agreement of Limited Partnership dated as of March 1, 2013 (the “LP Agreement”). The investment objective of UNG is for the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the daily changes in percentage terms of the price of natural gas delivered at the Henry Hub, Louisiana as measured by the daily changes in the price of the futures contract on natural gas as traded on the New York Mercantile Exchange (the “NYMEX”) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire (the “Benchmark Futures Contract”), less UNG’s expenses. It is not the intent of UNG to be operated in a fashion such that the per share NAV will equal, in dollar terms, the spot price of natural gas or any particular futures contract based on natural gas. It is not the intent of UNG to be operated in a fashion such that its per share NAV will reflect the percentage change of the price of any particular futures contract as measured over a time period greater than one day. United States Commodity Funds LLC (“USCF”), the general partner of UNG, believes that it is not practical to manage the portfolio to achieve such an investment goal when investing in natural gas Futures Contracts (as defined below) and Other Natural Gas-Related Investments (as defined below). The net assets of UNG consists primarily of investments in futures contracts for natural gas that are traded on the NYMEX, ICE Futures Exchange (“ICE Futures”) or other U.S. and foreign exchanges (collectively, “Natural Gas Futures Contracts”), to a lesser extent, in order to comply with regulatory requirements or in view of market conditions, Other Natural Gas-Related Investments such as cash-settled options on Natural Gas Futures Contracts, forward contracts for natural gas, cleared swap contracts and non-exchange traded over-the-counter (“OTC”) transactions that are based on the price of natural gas, crude oil and other petroleum-based fuels, as well as futures contracts for crude oil, diesel-heating oil, gasoline and other petroleum-based fuels and indices based on the foregoing (collectively, “Other Natural Gas-Related Investments”). As of December 31, 2015, UNG held 17,036 20,000 UNG commenced investment operations on April 18, 2007 All funds listed previously are referred to collectively herein as the “Related Public Funds.” UNG issues shares to certain authorized purchasers (“Authorized Participants”) by offering baskets consisting of 100,000 In addition, Authorized Participants pay UNG a $ 1,000 100,000 In April 2007, UNG initially registered 30,000,000 50.00 200,000 10,001,000 1,880,000,000 On February 21, 2012, after the close of trading on the NYSE Arca, UNG effected a 4 174,297,828 5.51 43,574,457 22.04 CUSIP number of UNG’s shares changed to 912318201

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements have been prepared in conformity with GAAP as detailed in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification. UNG is an investment company and follows the accounting and reporting guidance in FASB Topic 946. Commodity futures contracts, forward contracts, physical commodities, and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the financial statements. Changes in the unrealized gains or losses between periods are reflected in the statements of operations. UNG earns income on funds held at the custodian or futures commission merchant (“FCM”) at prevailing market rates earned on such investments. Investments in OTC total return swap contracts (see Note 5) are arrangements to exchange a periodic payment for a market-linked return, each based on a notional amount. To the extent that the total return of the commodity future, security or index underlying the transaction exceeds or falls short of the offsetting periodic payment obligation, UNG receives a payment from, or makes a payment to, the swap counterparty. The OTC swap contracts are valued daily based upon the appreciation or depreciation of the underlying securities subsequent to the effective date of the contract. Changes in the value of the swaps are reported as unrealized gains and losses and periodic payments are recorded as realized gains or losses in the accompanying statements of operations. Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis. UNG is not subject to federal income taxes; each partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return. In accordance with accounting principles generally accepted in the United States of America (“GAAP”), UNG is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. UNG files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. UNG is not subject to income tax return examinations by major taxing authorities for years before 2012. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in UNG recording a tax liability that reduces net assets. However, UNG’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof. UNG recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the year ended December 31, 2015. Authorized Participants may purchase Creation Baskets or redeem Redemption Baskets only in blocks of 100,000 UNG receives or pays the proceeds from shares sold or redeemed within three business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in UNG’s statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed. Authorized Participants pay UNG a fee of $ 1,000 Profit or loss shall be allocated among the partners of UNG in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement. UNG’s per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. UNG uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange. Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period. There were no shares held by USCF at December 31, 2015 Offering costs incurred in connection with the registration of additional shares after the initial registration of shares are borne by UNG. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings. These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted. Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less. Certain amounts in the accompanying financial statements were reclassified to conform to the current presentation. The preparation of financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions. On February 21, 2012, after the close of the NYSE Arca, UNG effected a 4-for-1 reverse share split and post-split shares of UNG began trading on February 22, 2012. The audited financial statements in this annual report on Form 10-K are presented in accordance with Accounting Standards Codification 260 for purposes of presenting the 4-for-1 reverse split on a historical basis for all periods reported.

FEES PAID BY THE FUND AND RELAT

FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Fees Paid By Fund and Related Party Transactions [Abstract]
Fees Paid by the Fund and Related Party Transactions	NOTE 3 - FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS USCF Management Fee Under the LP Agreement, USCF is responsible for investing the assets of UNG in accordance with the objectives and policies of UNG. In addition, USCF has arranged for one or more third parties to provide administrative, custody, accounting, transfer agency and other necessary services to UNG. For these services, UNG is contractually obligated to pay USCF a fee, which is paid monthly, that is equal to 0.60% per annum of average daily total net assets of $1,000,000,000 or less and 0.50% per annum of average daily total net assets that are greater than $1,000,000,000. Ongoing Registration Fees and Other Offering Expenses UNG pays all costs and expenses associated with the ongoing registration of its shares subsequent to the initial offering. These costs include registration or other fees paid to regulatory agencies in connection with the offer and sale of shares, and all legal, accounting, printing and other expenses associated with such offer and sale. For the years ended December 31, 2015, 2014 and 2013, UNG incurred $ 379,106 238,716 850 Directors’ Fees and Expenses UNG is responsible for paying its portion of the directors’ and officers’ liability insurance for UNG and the Related Public Funds and the fees and expenses of the independent directors who also serve as audit committee members of UNG and the Related Public Funds. UNG shares the fees and expenses on a pro rata basis with each Related Public Fund, as described above, based on the relative assets of each fund computed on a daily basis. These fees and expenses for the year ended December 31, 2015 were $ 569,303 118,994 567,863 191,887 555,465 199,863 Licensing Fees As discussed in Note 4 below, UNG entered into a licensing agreement with the NYMEX on April 10, 2006, as amended on October 20, 2011. Pursuant to the agreement, through October 19, 2011, UNG and the Related Public Funds, other than BNO, USCI, CPER and USAG paid a licensing fee that was equal to 0.04 1,000,000,000 0.02 1,000,000,000 0.015 91,139 108,418 143,884 Investor Tax Reporting Cost The fees and expenses associated with UNG’s audit expenses and tax accounting and reporting requirements are paid by UNG. These costs were approximately $ 1,100,000 1,385,000 1,700,000 Other Expenses and Fees In addition to the fees described above, UNG pays all brokerage fees, transaction costs for OTC swaps, if any, taxes and other expenses in connection with the operation of UNG, excluding costs and expenses paid by USCF as outlined in “ Note 4- Contracts and Agreements

CONTRACTS AND AGREEMENTS

CONTRACTS AND AGREEMENTS	12 Months Ended
	Dec. 31, 2015
Contractors [Abstract]
Contracts and Agreements	NOTE 4 - CONTRACTS AND AGREEMENTS Marketing Agent Agreement UNG is party to a marketing agent agreement, dated as of April 17, 2007, as amended from time to time, with the Marketing Agent and USCF, whereby the Marketing Agent provides certain marketing services for UNG as outlined in the agreement. The fees of the Marketing Agent, which are borne by USCF, are equal to 0.06 3 0.04 3 10 The above fees do not include website construction and development, which are also borne by USCF. Brown Brothers Harriman & Co. Agreements UNG is also party to a custodian agreement, dated March 5, 2007, as amended from time to time, with Brown Brothers Harriman & Co. (“BBH&Co.”) and USCF, whereby BBH&Co. holds investments on behalf of UNG. USCF pays the fees of the custodian, which are determined by the parties from time to time. In addition, UNG is party to an administrative agency agreement, dated March 5, 2007, as amended from time to time, with USCF and BBH&Co., whereby BBH&Co. acts as the administrative agent, transfer agent and registrar for UNG. USCF also pays the fees of BBH&Co. for its services under such agreement and such fees are determined by the parties from time to time. Currently, USCF pays BBH&Co. for its services, in the foregoing capacities, a minimum amount of $ 75,000 20,000 0.06 500 0.0465 500 1 0.035 1 7 15 Brokerage and Futures Commission Merchant Agreements On October 8, 2013, UNG entered into a brokerage agreement with RBC Capital Markets, LLC (“RBC Capital” or “RBC”) to serve as UNG’s FCM effective October 10, 2013. The agreement with RBC requires it to provide services to UNG in connection with the purchase and sale of Futures Contracts and Other Natural Gas-Related Investments that may be purchased and sold by or through RBC Capital for UNG’s account. In accordance with the agreement, RBC Capital charges UNG commissions of approximately $ 2 10 For the Year Ended For the Year Ended For the Year Ended Total commissions accrued to brokers $ 2,371,433 $ 2,001,949 $ 2,400,039 Total Commissions as an annualized percentage of average total net assets 0.39 % 0.28 % 0.25 % Commissions accrued as a result of rebalancing $ 2,089,974 $ 1,623,581 $ 2,036,257 Percentage of commissions accrued as a result of rebalancing 88.13 % 81.10 % 84.84 % Commissions accrued as a result of creation and redemption activity $ 281,459 $ 378,368 $ 363,782 Percentage of commissions accrued as a result of creation and redemption activity 11.87 % 18.90 % 15.16 % The increase in the total commissions accrued to brokers for the year ended December 31, 2015 as compared to the year ended December 31, 2014, was primarily a result of increased brokerage fees due to a higher number of Natural Gas Interests that UNG invested in. The decrease in the total commissions accrued to brokers for the year ended December 31, 2014 as compared to the year ended December 31, 2013 was primarily the result of decreased brokerage fees due to a lower number of Natural Gas Interests being held and traded. However, there can be no assurance that commission costs and portfolio turnover will not cause commission expenses to rise in future quarters. NYMEX Licensing Agreement UNG and the NYMEX entered into a licensing agreement on April 10, 2006, as amended on October 20, 2011, whereby UNG was granted a non-exclusive license to use certain of the NYMEX’s settlement prices and service marks. Under the licensing agreement, UNG and the Related Public Funds, other than BNO, USCI, CPER and USAG, pay the NYMEX an asset-based fee for the license, the terms of which are described in Note 3. UNG expressly disclaims any association with the NYMEX or endorsement of UNG by the NYMEX and acknowledges that “NYMEX” and “New York Mercantile Exchange” are registered trademarks of the NYMEX.

FINANCIAL INSTRUMENTS, OFF-BALA

FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Financial Instruments Off Balance Sheet Risks and Contingencies [Abstract]
Financial Instruments, Off-Balance Sheet Risks and Contingencies	NOTE 5 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES UNG engages in the trading of futures contracts, options on futures contracts, cleared swaps and OTC swaps (collectively, “derivatives”). UNG is exposed to both market risk, which is the risk arising from changes in the market value of the contracts, and credit risk, which is the risk of failure by another party to perform according to the terms of a contract. UNG may enter into futures contracts, options on futures contracts, cleared swaps and OTC swaps to gain exposure to changes in the value of an underlying commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of a commodity at a specified time and place. Some futures contracts may call for physical delivery of the asset, while others are settled in cash. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery. Cleared swaps are OTC agreements that are eligible to be cleared by a clearinghouse, e.g The purchase and sale of futures contracts, options on futures contracts and cleared swaps require margin deposits with an FCM. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. Futures contracts, options on futures contracts and cleared swaps involve, to varying degrees, elements of market risk (specifically commodity price risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure UNG has in the particular classes of instruments. Additional risks associated with the use of futures contracts are an imperfect correlation between movements in the price of the futures contracts and the market value of the underlying securities and the possibility of an illiquid market for a futures contract. Buying and selling options on futures contracts exposes investors to the risks of purchasing or selling futures contracts. All of UNG’s investment contracts were exchange-traded futures contracts through December 31, 2015. UNG held no OTC swaps as of April 23, 2014 and has not held any since that date. The risks associated with exchange-traded contracts are generally perceived to be less than those associated with OTC swaps since, in OTC swaps, a party must rely solely on the credit of its respective individual counterparties. As of December 31, 2015, UNG maintained no OTC swap transactions. The OTC swap transaction with JPMorgan Chase Bank, NA was terminated effective April 23, 2014. However, in the future, if UNG were to enter into non-exchange traded contracts, it would be subject to the credit risk associated with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net unrealized gain, if any, on the transaction. UNG has credit risk under its futures contracts since the sole counterparty to all domestic and foreign futures contracts is the clearinghouse for the exchange on which the relevant contracts are traded. In addition, UNG bears the risk of financial failure by the clearing broker. At December 31, 2015, UNG’s counterparties posted $ 0 0 0 0 0 0 0 0 UNG’s cash and other property, such as Treasuries, deposited with an FCM are considered commingled with all other customer funds, subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The insolvency of an FCM could result in the complete loss of UNG’s assets posted with that FCM; however, the majority of UNG’s assets are held in Treasuries, cash and/or cash equivalents with UNG’s custodian and would not be impacted by the insolvency of an FCM. The failure or insolvency of UNG’s custodian, however, could result in a substantial loss of UNG’s assets. USCF invests a portion of UNG’s cash in money market funds that seek to maintain a stable per share NAV. UNG is exposed to any risk of loss associated with an investment in such money market funds. As of December 31, 2015 and December 31, 2014, UNG held investments in money market funds in the amounts of $ 30,000,000 270,505,751 448,772,036 545,522,548 For derivatives, risks arise from changes in the market value of the contracts. Theoretically, UNG is exposed to market risk equal to the value of futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and a seller of options, UNG pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. UNG’s policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial, position and credit exposure reporting controls and procedures. In addition, UNG has a policy of requiring review of the credit standing of each broker or counterparty with which it conducts business. The financial instruments held by UNG are reported in its statements of financial condition at market or fair value, or at carrying amounts that approximate fair value, because of their highly liquid nature and short-term maturity.

FINANCIAL HIGHLIGHTS

FINANCIAL HIGHLIGHTS	12 Months Ended
	Dec. 31, 2015
Financial Highlights [Abstract]
Financial Highlights	NOTE 6 - FINANCIAL HIGHLIGHTS Year ended Year ended Year ended Per Share Operating Performance: Net asset value, beginning of year $ 14.63 $ 20.59 $ 18.87 Total income (loss) (5.78) (5.70) 1.93 Total expenses (0.16) (0.26) (0.21) Net increase (decrease) in net asset value (5.94) (5.96) 1.72 Net asset value, end of year $ 8.69 $ 14.63 $ 20.59 Total Return (40.60) % (28.95) % 9.11 % Ratios to Average Net Assets Total income (loss) (39.08) % (23.36) % 17.44 % Management fees 0.60 % 0.60 % 0.60 % Expenses excluding management fees 0.67 % 0.54 % 0.47 % Net income (loss) (40.35) % (24.51) % 16.38 % Total returns are calculated based on the change in value during the period. An individual shareholder’s total return and ratio may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from UNG.

QUARTERLY FINANCIAL DATA (Unaud

QUARTERLY FINANCIAL DATA (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	NOTE 7 - QUARTERLY FINANCIAL DATA (Unaudited) First Second Third Fourth Quarter Quarter Quarter Quarter 2015 2015 2015 2015 Total Income (Loss) $ (41,358,622) $ 34,038,791 $ (86,678,980) $ (143,426,543) Total Expenses 2,051,706 2,103,468 1,956,063 1,604,432 Net Income (Loss) $ (43,410,328) $ 31,935,323 $ (88,635,043) $ (145,030,975) Net Income (Loss) per Share $ (1.37) $ 0.33 $ (1.99) $ (2.91) First Second Third Fourth Quarter Quarter Quarter Quarter 2014 2014 2014 2014 Total income (loss) $ 155,083,163 $ 15,991,068 $ (64,717,705) $ (275,233,339) Total expenses 2,262,092 2,069,407 2,049,423 1,892,746 Net income (loss) $ 152,821,071 $ 13,921,661 $ (66,767,128) $ (277,126,085) Net income (loss) per share $ 3.76 $ 0.23 $ (2.48) $ (7.47)

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Of Financial Instruments	NOTE 8 - FAIR VALUE OF FINANCIAL INSTRUMENTS UNG values its investments in accordance with Accounting Standards Codification 820 – Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of UNG (observable inputs) and (2) UNG’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820 hierarchy are as follows: Level I – Quoted prices (unadjusted) in active markets for identical Level II – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for similar Level III – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available. In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. At December 31, 2015 Total Level I Level II Level III Short-Term Investments $ 411,698,465 $ 411,698,465 $ – $ – Exchange-Traded Futures Contracts 101,409,342 101,409,342 – – During the year ended December 31, 2015, there were no transfers between Level I and Level II. At December 31, 2014 Total Level I Level II Level III Short-Term Investments $ 520,470,896 $ 520,470,896 $ – $ – Exchange-Traded Futures Contracts (167,811,783) (167,811,783) – – During the year ended December 31, 2014, there were no transfers between Level I and Level II. Total Return Swap Contracts Beginning balance as of 12/31/13 $ (6,654,820) Realized gain (loss)* — Change in unrealized gain (loss) 6,654,820 Ending balance as of 12/31/14 $ — * The realized gain (loss) incurred during the fiscal year ended December 31, 2014 for total return swaps was $ 25,690,444 Effective January 1, 2009, UNG adopted the provisions of Accounting Standards Codification 815—Derivatives and Hedging, which require presentation of qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts and gains and losses on derivatives. Derivatives not Statements of Accounted Financial Fair Value Fair Value for as Hedging Condition At At Instruments Location December 31, 2015 December 31, 2014 Futures –Commodity Contracts Assets $ 101,409,342 $ (167,811,783) Swaps - Commodity Contracts Assets — — For the year ended For the year ended For the year ended December 31, 2015 December 31, 2014 December 31, 2013 Change in Change in Change in Location of Realized Gain Unrealized Realized Gain Unrealized Realized Gain Unrealized Gain (Loss) on Gain (Loss) on Gain (Loss) on Gain Derivatives (Loss) on Derivatives (Loss) on Derivatives (Loss) on Derivatives (Loss) on not Accounted Derivatives Recognized Derivatives Recognized Derivatives Recognized Derivatives for as Hedging Recognized in Recognized in Recognized in Recognized Instruments in Income Income in Income Income in Income Income in Income Futures – Commodity Contracts Realized gain (loss) on closed futures positions $ (507,207,349) $ (47,954,734) $ 155,734,315 Change in unrealized gain (loss) on open futures positions $ 269,221,125 $ (153,777,873) $ 562,933 Swaps – Commodity Contracts Realized gain (loss) on closed swap contracts $ - $ 25,690,444 $ 13,643,971 Change in unrealized gain (loss) on open swap contracts $ - $ 6,654,820 $ (3,183,881)

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	NOTE 9 – RECENT ACCOUNTING PRONOUNCEMENTS In August 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2015-14, Revenue from Contracts with Customers, modifying ASU 2014-09. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2015-14 is effective for fiscal years beginning on or after December 15, 2016, and interim periods within those annual periods. Early application is permitted. At this time, management does not believe there will be any impact to the Fund’s financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 – SUBSEQUENT EVENTS UNG has performed an evaluation of subsequent events through the date the financial statements were issued. This evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements have been prepared in conformity with GAAP as detailed in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification. UNG is an investment company and follows the accounting and reporting guidance in FASB Topic 946.
Revenue Recognition	Revenue Recognition Commodity futures contracts, forward contracts, physical commodities, and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the financial statements. Changes in the unrealized gains or losses between periods are reflected in the statements of operations. UNG earns income on funds held at the custodian or futures commission merchant (“FCM”) at prevailing market rates earned on such investments. Investments in OTC total return swap contracts (see Note 5) are arrangements to exchange a periodic payment for a market-linked return, each based on a notional amount. To the extent that the total return of the commodity future, security or index underlying the transaction exceeds or falls short of the offsetting periodic payment obligation, UNG receives a payment from, or makes a payment to, the swap counterparty. The OTC swap contracts are valued daily based upon the appreciation or depreciation of the underlying securities subsequent to the effective date of the contract. Changes in the value of the swaps are reported as unrealized gains and losses and periodic payments are recorded as realized gains or losses in the accompanying statements of operations.
Brokerage Commissions	Brokerage Commissions Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis.
Income Taxes	Income Taxes UNG is not subject to federal income taxes; each partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return. In accordance with accounting principles generally accepted in the United States of America (“GAAP”), UNG is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. UNG files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. UNG is not subject to income tax return examinations by major taxing authorities for years before 2012. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in UNG recording a tax liability that reduces net assets. However, UNG’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof. UNG recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the year ended December 31, 2015.
Creations and Redemptions	Creations and Redemptions Authorized Participants may purchase Creation Baskets or redeem Redemption Baskets only in blocks of 100,000 UNG receives or pays the proceeds from shares sold or redeemed within three business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in UNG’s statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed. Authorized Participants pay UNG a fee of $ 1,000
Partnership Capital and Allocation of Partnership Income and Losses	Partnership Capital and Allocation of Partnership Income and Losses Profit or loss shall be allocated among the partners of UNG in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement.
Calculation of Per Share Net Asset Value	Calculation of Per Share Net Asset Value (“NAV”) UNG’s per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. UNG uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period. There were no shares held by USCF at December 31, 2015
Offering Costs	Offering Costs Offering costs incurred in connection with the registration of additional shares after the initial registration of shares are borne by UNG. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings. These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted.
Cash Equivalents	Cash Equivalents Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less.
Reclassification	Reclassification Certain amounts in the accompanying financial statements were reclassified to conform to the current presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.
Other	Other On February 21, 2012, after the close of the NYSE Arca, UNG effected a 4-for-1 reverse share split and post-split shares of UNG began trading on February 22, 2012. The audited financial statements in this annual report on Form 10-K are presented in accordance with Accounting Standards Codification 260 for purposes of presenting the 4-for-1 reverse split on a historical basis for all periods reported.

CONTRACTS AND AGREEMENTS (Table

CONTRACTS AND AGREEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Contractors [Abstract]
Brokerage Commissions	For the Year Ended For the Year Ended For the Year Ended Total commissions accrued to brokers $ 2,371,433 $ 2,001,949 $ 2,400,039 Total Commissions as an annualized percentage of average total net assets 0.39 % 0.28 % 0.25 % Commissions accrued as a result of rebalancing $ 2,089,974 $ 1,623,581 $ 2,036,257 Percentage of commissions accrued as a result of rebalancing 88.13 % 81.10 % 84.84 % Commissions accrued as a result of creation and redemption activity $ 281,459 $ 378,368 $ 363,782 Percentage of commissions accrued as a result of creation and redemption activity 11.87 % 18.90 % 15.16 %

FINANCIAL HIGHLIGHTS (Tables)

FINANCIAL HIGHLIGHTS (Tables)	12 Months Ended
	Dec. 31, 2015
Financial Highlights [Abstract]
Per Unit Performance Data and Other Supplemental Financial Data	The following table presents per share performance data and other supplemental financial data for the years ended December 31, 2015, 2014 and 2013. This information has been derived from information presented in the financial statements. Year ended Year ended Year ended Per Share Operating Performance: Net asset value, beginning of year $ 14.63 $ 20.59 $ 18.87 Total income (loss) (5.78) (5.70) 1.93 Total expenses (0.16) (0.26) (0.21) Net increase (decrease) in net asset value (5.94) (5.96) 1.72 Net asset value, end of year $ 8.69 $ 14.63 $ 20.59 Total Return (40.60) % (28.95) % 9.11 % Ratios to Average Net Assets Total income (loss) (39.08) % (23.36) % 17.44 % Management fees 0.60 % 0.60 % 0.60 % Expenses excluding management fees 0.67 % 0.54 % 0.47 % Net income (loss) (40.35) % (24.51) % 16.38 %

QUARTERLY FINANCIAL DATA (Una22

QUARTERLY FINANCIAL DATA (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	The following summarized (unaudited) quarterly financial information presents the results of operations and other data for three-month periods ended March 31, June 30, September 30 and December 31, 2015 and 2014. First Second Third Fourth Quarter Quarter Quarter Quarter 2015 2015 2015 2015 Total Income (Loss) $ (41,358,622) $ 34,038,791 $ (86,678,980) $ (143,426,543) Total Expenses 2,051,706 2,103,468 1,956,063 1,604,432 Net Income (Loss) $ (43,410,328) $ 31,935,323 $ (88,635,043) $ (145,030,975) Net Income (Loss) per Share $ (1.37) $ 0.33 $ (1.99) $ (2.91) First Second Third Fourth Quarter Quarter Quarter Quarter 2014 2014 2014 2014 Total income (loss) $ 155,083,163 $ 15,991,068 $ (64,717,705) $ (275,233,339) Total expenses 2,262,092 2,069,407 2,049,423 1,892,746 Net income (loss) $ 152,821,071 $ 13,921,661 $ (66,767,128) $ (277,126,085) Net income (loss) per share $ 3.76 $ 0.23 $ (2.48) $ (7.47)

FAIR VALUE OF FINANCIAL INSTR23

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Valuation of USNG's Securities Using the Fair Value Hierarchy	At December 31, 2015 Total Level I Level II Level III Short-Term Investments $ 411,698,465 $ 411,698,465 $ – $ – Exchange-Traded Futures Contracts 101,409,342 101,409,342 – – The following table summarizes the valuation of UNG’s securities at December 31, 2014 using the fair value hierarchy: At December 31, 2014 Total Level I Level II Level III Short-Term Investments $ 520,470,896 $ 520,470,896 $ – $ – Exchange-Traded Futures Contracts (167,811,783) (167,811,783) – –
Reconciliation of Assets in which Significant Observable Inputs (Level III) were Used in Determining Fair Value	Following is a reconciliation of assets in which significant observable inputs (Level 3) were used in determining fair value as of December 31, 2014: Total Return Swap Contracts Beginning balance as of 12/31/13 $ (6,654,820) Realized gain (loss)* — Change in unrealized gain (loss) 6,654,820 Ending balance as of 12/31/14 $ — * The realized gain (loss) incurred during the fiscal year ended December 31, 2014 for total return swaps was $ 25,690,444
Fair Value of Derrivative Instruments	Fair Value of Derivative Instruments Derivatives not Statements of Accounted Financial Fair Value Fair Value for as Hedging Condition At At Instruments Location December 31, 2015 December 31, 2014 Futures –Commodity Contracts Assets $ 101,409,342 $ (167,811,783) Swaps - Commodity Contracts Assets — —
Effect of Derivative Instruments on the Statements of Operations	The Effect of Derivative Instruments on the Statements of Operations For the year ended For the year ended For the year ended December 31, 2015 December 31, 2014 December 31, 2013 Change in Change in Change in Location of Realized Gain Unrealized Realized Gain Unrealized Realized Gain Unrealized Gain (Loss) on Gain (Loss) on Gain (Loss) on Gain Derivatives (Loss) on Derivatives (Loss) on Derivatives (Loss) on Derivatives (Loss) on not Accounted Derivatives Recognized Derivatives Recognized Derivatives Recognized Derivatives for as Hedging Recognized in Recognized in Recognized in Recognized Instruments in Income Income in Income Income in Income Income in Income Futures – Commodity Contracts Realized gain (loss) on closed futures positions $ (507,207,349) $ (47,954,734) $ 155,734,315 Change in unrealized gain (loss) on open futures positions $ 269,221,125 $ (153,777,873) $ 562,933 Swaps – Commodity Contracts Realized gain (loss) on closed swap contracts $ - $ 25,690,444 $ 13,643,971 Change in unrealized gain (loss) on open swap contracts $ - $ 6,654,820 $ (3,183,881)

ORGANIZATION AND BUSINESS (Addi

ORGANIZATION AND BUSINESS (Additional Information) (Details)	1 Months Ended
	Feb. 21, 2012$ / sharesshares	Apr. 30, 2007	Apr. 18, 2007USD ($)$ / sharesshares	Dec. 31, 2015$ / shares$ / Unit	Dec. 31, 2014$ / sharesshares	Dec. 31, 2013$ / shares	Dec. 31, 2012$ / shares
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets | $ / Unit				1,000
Number of initially registered units on Form S-1 with the U.S. Securities and Exchange Commission		30,000,000
Net Asset Value Per Unit | $ / shares			$ 50	$ 8.69	$ 14.63	$ 20.59	$ 18.87
Number of units issued			200,000
Value of unit issued | $			$ 10,001,000
Number of registered units				1,880,000,000
Committee For Uniform Securities Identification Procedure Cusip	CUSIP number of UNGs shares changed to 912318201
Capital Units, Outstanding					174,297,828
Operations Commenced Date			Apr. 18, 2007
Reverse unit split ratio	4
Pre-split units of USNG automatically exchanged for one post-split unit	4
Open Futures Contracts, Long [Member] | United States [Member] | NYMEX Natural Gas Futures NG February 2015 contracts, expiring January 2015 [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of Contracts				17,036
Open Futures Contracts, Long [Member] | United States [Member] | ICE Natural Gas Futures LD1 H February 2015 contracts, expiring January 2015 [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of Contracts				20,000
Prior to Reverse Split [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Net Asset Value Per Unit | $ / shares	$ 5.51
Issued units	174,297,828
Following Reverse Split [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Net Asset Value Per Unit | $ / shares	$ 22.04
Capital Units, Outstanding	43,574,457
Creation Baskets [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of units per basket | $ / Unit				100,000
Redemption Baskets [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of units per basket | $ / Unit				100,000

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Additional Information) (Details)	Dec. 31, 2015$ / Unit
Significant Accounting Policies [Line Items]
Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets	1,000
Redemption Baskets [Member]
Significant Accounting Policies [Line Items]
Number of units per basket	100,000

FEES PAID BY THE FUND AND REL26

FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS (Additional Information) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fees Paid and Related Party Transactions [Line Items]
USCF Management Fee	UNG. For these services, UNG is contractually obligated to pay USCF a fee, which is paid monthly, that is equal to 0.60% per annum of average daily total net assets of $1,000,000,000 or less and 0.50% per annum of average daily total net assets that are greater than $1,000,000,000.
Licensing fee incurred	$ 91,139	$ 108,418	$ 143,884
Estimated investor tax reporting cost	1,100,000	1,385,000	1,700,000
Estimated directors fees and expenses	118,994	191,887	199,863
USNG and the Related Public Funds [Member]
Fees Paid and Related Party Transactions [Line Items]
Estimated directors fees and expenses	569,303	567,863	555,465
UNITED STATES GAS FUND LP [Member]
Fees Paid and Related Party Transactions [Line Items]
Licensing fee incurred	$ 91,139	108,418	143,884
Estimated directors fees and expenses		191,887	199,863
First $1,000,000,000 of combined net assets of the funds [Member]
Fees Paid and Related Party Transactions [Line Items]
Fee percentage	0.04%
Basis Amount For Fee Percentage	1,000,000,000
Combined net assets above $1,000,000,000 [Member]
Fees Paid and Related Party Transactions [Line Items]
Fee percentage	0.02%
Basis Amount For Fee Percentage	1,000,000,000
Licensing Agreements [Member]
Fees Paid and Related Party Transactions [Line Items]
Fee percentage	0.015%
Licensing fee incurred		108,418
United States Oil Fund LP [Member]
Fees Paid and Related Party Transactions [Line Items]
Ongoing Registration Fees and Other Offering Expenses	$ 379,106	$ 238,716	$ 850
Estimated directors fees and expenses	$ 118,994

CONTRACTS AND AGREEMENTS (Broke

CONTRACTS AND AGREEMENTS (Brokerage Commission) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Floor Brokerage Exchange and Clearance Fees	$ 2,371,433	$ 2,001,949	$ 2,400,039
Percentage Of Average Daily Net Assets	0.39%	0.28%	0.25%
Rebalancing Investments Transaction [Member]
Floor Brokerage Exchange and Clearance Fees	$ 2,089,974	$ 1,623,581	$ 2,036,257
Percentage Of Average Daily Net Assets	88.13%	81.10%	84.84%
Creation And Redemption Activity [Member]
Floor Brokerage Exchange and Clearance Fees	$ 281,459	$ 378,368	$ 363,782
Percentage Of Average Daily Net Assets	11.87%	18.90%	15.16%

CONTRACTS AND AGREEMENTS (Addit

CONTRACTS AND AGREEMENTS (Additional Information) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / Unit
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Annual Fee for custody, fund accounting and fund administration services	$ 20,000
Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Transaction fees per transaction | $ / Unit	15
Commissions per round-turn trade, including applicable exchange and NFA fees for Futures Contracts and options on Futures Contracts | $ / Unit	10
Minimum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Annual Fee for custody, fund accounting and fund administration services	$ 75,000
Transaction fees per transaction | $ / Unit	7
Commissions per round-turn trade, including applicable exchange and NFA fees for Futures Contracts and options on Futures Contracts | $ / Unit	2
First $500 million of USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.06%
First $500 million of USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets [Member] | Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 500,000,000
USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.0465%
Base amount for determining fee percentage	$ 1,000,000,000
USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets greater than $500 million but less than $1 billion [Member] | Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 500,000,000
USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets exceed $1 billion [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.035%
USNG's, USOF's, US12OF's, UGA's, USDHO's, USSO's, US12NG's, USBO's, USCI's, CPER's, USAG's and USMI's combined net assets exceed $1 billion [Member] | Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 1,000,000,000
Marketing Agreement [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.04%
Marketing Agreement [Member] | USNG's assets up to $3 billion [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.06%
Base amount for determining fee percentage	$ 3,000,000,000
Marketing Agreement [Member] | USNG's assets in excess of $3 billion [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Ratio of expense to Average Net Assets	10.00%
Marketing Agreement [Member] | USNG's assets in excess of $3 billion [Member] | Minimum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 3,000,000,000

FINANCIAL INSTRUMENTS, OFF-BA29

FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES (Additional Information) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Carrying Amounts and Fair Values of Financial Instruments or Liabilities [Line Items]
Cash collateral from counterparties	$ 0	$ 0
Securities collateral from counterparties	0	0
Derivative, Collateral, Obligation to Return Cash	0	0
Obligation to Return Securities Received as Collateral	0	0
Cash investments in money market funds	30,000,000	270,505,751
Deposits in domestic and foreign financial institutions	$ 448,772,036	$ 545,522,548

FINANCIAL HIGHLIGHTS (Per Unit

FINANCIAL HIGHLIGHTS (Per Unit Performance Data and Other Supplemental Financial Data) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Per Share Operating Performance:
Net asset value, beginning of year	$ 14.63	$ 20.59	$ 18.87
Total income (loss)	(5.78)	(5.7)	1.93
Total expenses	(0.16)	(0.26)	(0.21)
Net increase (decrease) in net asset value	(5.94)	(5.96)	1.72
Net asset value, end of year	$ 8.69	$ 14.63	$ 20.59
Total Return	(40.60%)	(28.95%)	9.11%
Ratios to Average Net Assets
Total income (loss)	(39.08%)	(23.36%)	17.44%
Management fees	0.60%	0.60%	0.60%
Expenses excluding management fees	0.67%	0.54%	0.47%
Net income (loss)	(40.35%)	(24.51%)	16.38%

QUARTERLY FINANCIAL DATA (Una31

QUARTERLY FINANCIAL DATA (Unaudited) (Summarized Quarterly Financial Information) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information [Line Items]
Total Income (Loss)	$ (143,426,543)	$ (86,678,980)	$ 34,038,791	$ (41,358,622)	$ (275,233,339)	$ (64,717,705)	$ 15,991,068	$ 155,083,163	$ (237,425,354)	$ (168,876,813)	$ 167,307,664
Total Expenses	1,604,432	1,956,063	2,103,468	2,051,706	1,892,746	2,049,423	2,069,407	2,262,092	7,715,669	8,273,668	10,207,795
Net Income (Loss)	$ (145,030,975)	$ (88,635,043)	$ 31,935,323	$ (43,410,328)	$ (277,126,085)	$ (66,767,128)	$ 13,921,661	$ 152,821,071	$ (245,141,023)	$ (177,150,481)	$ 157,099,869
Net Income (Loss) per Share	$ (2.91)	$ (1.99)	$ 0.33	$ (1.37)	$ (7.47)	$ (2.48)	$ 0.23	$ 3.76	$ (5.94)	$ (5.96)	$ 1.72

FAIR VALUE OF FINANCIAL INSTR32

FAIR VALUE OF FINANCIAL INSTRUMENTS (Valuation of Securities Using Fair Value Hierarchy) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Short-Term Investments [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	$ 411,698,465	$ 520,470,896
Exchange-Traded Futures Contracts [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	101,409,342	(167,811,783)
Fair Value, Inputs, Level 1 [Member] | Short-Term Investments [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	411,698,465	520,470,896
Fair Value, Inputs, Level 1 [Member] | Exchange-Traded Futures Contracts [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	101,409,342	(167,811,783)
Fair Value, Inputs, Level 2 [Member] | Short-Term Investments [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 2 [Member] | Exchange-Traded Futures Contracts [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Short-Term Investments [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Exchange-Traded Futures Contracts [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR33

FAIR VALUE OF FINANCIAL INSTRUMENTS (Reconciliation of Assets in which Significant Observable Inputs (Level III) were used in Determining Fair Value) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Total Return Swap Contracts
Realized gain (loss)		$ 0	$ 25,690,444	$ 13,643,971
Change in unrealized gain (loss)		$ 0	6,654,820	$ (3,183,881)
Total Return Swap Contracts [Member]
Total Return Swap Contracts
Beginning balance			(6,654,820)
Realized gain (loss)	[1]		0
Change in unrealized gain (loss)			6,654,820
Ending balance			$ 0
[1]	The realized gain (loss) incurred during the fiscal year ended December 31, 2014 for total return swaps was $25,690,444.

FAIR VALUE OF FINANCIAL INSTR34

FAIR VALUE OF FINANCIAL INSTRUMENTS (Reconciliation of Assets in which Significant Observable Inputs (Level III) were used in Determining Fair Value) (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Total Return Swap Contracts
Realized gain (loss)	$ 0	$ 25,690,444	$ 13,643,971
Total Return Swap [Member]
Total Return Swap Contracts
Realized gain (loss)		$ 25,690,444

FAIR VALUE OF FINANCIAL INSTR35

FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - Commodity Contracts [Member] - Assets [Member] - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Futures - Commodity Contracts [Member]
Fair Value of Financial Instruments [Line Items]
Derivatives not Accounted for as Hedging Instruments	$ 101,409,342	$ (167,811,783)
Swaps - Commodity Contracts [Member]
Fair Value of Financial Instruments [Line Items]
Derivatives not Accounted for as Hedging Instruments	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR36

FAIR VALUE OF FINANCIAL INSTRUMENTS (Effect of Derivative Instruments on Condensed Statements of Operations) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Futures - Commodity Contracts [Member] | Realized gain on closed futures positions [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income			$ 155,734,315
Futures - Commodity Contracts [Member] | Change in unrealized gain or (loss) on open futures positions [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Derivatives Recognized in Income	$ 269,221,125	$ (153,777,873)	562,933
Swaps - Commodity Contracts [Member] | Realized gain (loss) on closed swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income			13,643,971
Swaps - Commodity Contracts [Member] | Change in unrealized gain on open swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Derivatives Recognized in Income	0	6,654,820	$ (3,183,881)
Commodity Contracts [Member] | Futures - Commodity Contracts [Member] | Realized gain on closed futures positions [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income	(507,207,349)	(47,954,734)
Commodity Contracts [Member] | Swaps - Commodity Contracts [Member] | Realized gain (loss) on closed swap contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income	$ 0	$ 25,690,444