Exhibit 99.1
| United States Short Oil Fund, LP | |
| Monthly Account Statement | |
| For the Month Ended July 31, 2017 |
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | 16,135 | ||
| Unrealized Gain (Loss) on Market Value of Futures | (956,621 | ) | ||
| Dividend Income | 2,235 | |||
| Interest Income | 5,840 | |||
| Total Income (Loss) | $ | (932,411 | ) | |
| Expenses | ||||
| General Partner Management Fees | $ | 5,595 | ||
| Professional Fees | 2,122 | |||
| Brokerage Commissions | 2,026 | |||
| Non-interested Directors' Fees and Expenses | 73 | |||
| Prepaid Insurance Expense | 102 | |||
| NYMEX License Fee | 140 | |||
| Total Expenses | 10,058 | |||
| Expense Waiver | (3,091 | ) | ||
| Net Expenses | $ | 6,967 | ||
| Net Income (Loss) | $ | (939,378 | ) | |
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 7/1/17 | $ | 11,097,601 | ||
| Net Income (Loss) | (939,378 | ) | ||
| Net Asset Value End of Month | $ | 10,158,223 | ||
| Net Asset Value Per Share (150,000 Shares) | $ | 67.72 | ||
To the Limited Partners of United States Short Oil Fund, LP:
Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended July 31, 2017 is accurate and complete.
| /s/ Stuart P. Crumbaugh |
| Stuart P. Crumbaugh | |
| Chief Financial Officer | |
| United States Commodity Funds LLC, General Partner of United States Short Oil Fund, LP | |
| United States Commodity Funds LLC | |
| 1999 Harrison Street, Suite 1530 | |
| Oakland, CA 94612 | |
