United States 12 Month Oil Fund reports $5.8M net loss for 2025; NAV falls 12.4%

United States 12 Month Oil Fund, LP

Net loss of $5.76M in 2025 vs net income of $5.06M in 2024; diluted loss per share $4.81.
Total partners' capital fell to $36.6M (Dec 31, 2024: $49.4M); NAV per share $33.31 (from $38.01).
Realized loss on futures $4.5M; unrealized loss $2.55M; total trading loss $7.0M.
Shares outstanding decreased from 1.3M to 1.1M due to redemptions of 300,000 shares.
Cash and equivalents $39.7M at year-end, down from $49.9M in 2024.

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