**UNITED        STATES **

**SECURITIES        AND EXCHANGE COMMISSION **

**Washington,        D.C. 20549 **

**FORM        10-Q **

| **x** | **Quarterly                  report pursuant to Section 13 or 15(d) of the Securities Exchange Act                  of 1934 for the quarterly period ended June 30, 2006.** |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ** ̈** | **Transition                  report pursuant to Section 13 or 15(d) of the Securities Exchange Act                  of 1934 for the transition period from****                    ****to****                    ****.** |
|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**United        States Oil Fund, LP**

**(Exact        name of registrant as specified in its charter) **

|                                                                                                          |   |                                                                                |
|---------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------|
| **Delaware**                                                                                                  |   | **20-2830691**                                                                      |
| **(State                  or other jurisdiction of****incorporation                  or organization)**  |   | **(I.R.S.                  Employer****Identification                  No.)**  |

**1320        Harbor Bay Parkway, Suite 145**

**Alameda,        California 94502**

**(Address        of principal executive offices) **

**(510)        522-3336 **

**(Registrant’s        telephone number, including area code) **

**N/A        **

**(Former        name, former address and former fiscal year, if changed since last report)        **

----

**UNITED        STATES OIL FUND, LP**

**Table        of Contents**

**FINANCIAL        INFORMATION**

| **Part                  I. Financial Information**                                                                                     | **Page** |
|---------------------------------------------------------------------------------------------------------------------------------------------|----------|
| Item                  1. Financial Statements                                                                                          | 1        |
| Item                  2. Management’s Discussion and Analysis of Financial Condition and Results                  of Operations  | 11  |
| Item                  3. Quantitative and Qualitative Disclosures About Market                  Risk                                        | 18  |
| Item                  4. Controls and Procedures                                                                                       |  18 |
| **Part                  II. Other Information**                                                                                        |     |
| Item                  1. Legal Proceedings                                                                                             | 18       |
| Item                  1A. Risk Factors                                                                                                 | 18       |
| Item                  2. Unregistered Sales of Equity Securities and Use of                  Proceeds                                       | 19  |
| Item                  3.  Defaults                  Upon Senior Securities                                                        | 19       |
| Item                  4. Submission of Matters to a Vote of Security Holders                                                           | 19       |
| Item                  5. Other Information                                                                                             | 19       |
| Item                  6. Exhibits                                                                                                           | 19       |

----

**Part        I - Financial Information**

| **Item 1.** | **Financial                  Statements** |
|------------------|-------------------------------------------|

| ***United                  States Oil Fund, LP***                                                                  |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|--------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ***Statements                  of Financial Condition***                                                           |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|                                                                                                               | **                     June 30, 2006 (unaudited)** |                                                                                                                                                                                                                                                                                       | **December                  31, 2005** |
| **Assets**                                                                                                         |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Cash                  and cash equivalents                                                 |                                                              | $                                                  225,662,061                                                             |                                   |   | $                                                             1,000                           |
|     Deposits                  with                  broker as collateral for futures contracts |                                                              | 31,860,575                                                                                                                                                                                                                                                                                 |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|     Receivable                  for                  units sold                                |                                                              | 13,886,048                                                                                                                                                                                                                                                                                 |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|     Unrealized                  appreciation on futures contracts                              |                                                              | 7,457,480                                                                                                                                                                                                                                                                                  |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|     Interest                  receivable                                                       |                                                              | 138,636                                                                                                                                                                                                                                                                                    |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|     Other                                                                                      |                                                              | 5,000                                                                                                                                                                                                                                                                                      |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|         Total                  assets                                      |                                                              | $                                 279,009,800                                                                         |                                   |   | $                                                             1,000                           |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
| **Liabilities                  and partnership capital**                                                           |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Payable                  for units redeemed                                                |                                                              | $                                   13,580,866                                                              |                                   |   | $                                                   - |
|     Investment                  management fee                                                 |                                                              | 98,023                                                                                                                                                                                                                                                                                     |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|         Total                  liabilities                                 |                                                              |                                                     13,678,889                                                   |                                   |   | -                                                                                                                                                                                                                                                                                                                    |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
| **Partnership                  Capital**                                                                           |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     General                  Partner                                                           |                                                              | -                                                                                                                                                                                                                                                                                          |                                   |   | 20                                                                                                                                                                                                                                                                                                                   |
|     Limited                  Partner                                                           |                                                              | 265,330,911                                                                                                                                                                                                                                                                                |                                   |   | 980                                                                                                                                                                                                                                                                                                                  |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Total                  partnership capital                                                 |                                                              | 265,330,911                                                                                                                                                                                                                                                                                |                                   |   | 1,000                                                                                                                                                                                                                                                                                                                |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Total                  liabilities and partnership capital                                 |                                                                   | $                                                  279,009,800                                                             |                                   |        | $                                            1,000                                       |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Limited                  partnership units outstanding                                     |                                                              | 3,800,000                                                                                                                                                                                                                                                                                  |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Net                  asset value per unit                                                  |                                                              | $                                                             69.82 |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|     Market                  value per unit                                                     |                                                                   | $                                                             69.77 |                                   |   |                                                                                                                                                                                                                                                                                                                 |
|                                                                                                               |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |
| *See                  accompanying notes to condensed financial statements.*                                       |                                                              |                                                                                                                                                                                                                                                                                       |                                   |   |                                                                                                                                                                                                                                                                                                                 |

----

| ***United                  States Oil Fund, LP***                            |                       |                         |
|------------------------------------------------------------------------------|----------------------------|------------------------------|
| ***Schedule                  of Investments***                               |                       |                         |
| ***As                  of June 30, 2006 (unaudited)***                       |                       |                         |
|                                                                         |                       |                         |
| **Open                  Futures Contracts as of June 30, 2006**              |                       |                         |
|                                                                         | Number                  of | Unrealized                   |
|                                                                         | contracts                  | appreciation                 |
|                                                                         |                       |                         |
| **United                  States**                                           |                       |                         |
| Crude                  Oil Future contracts, due August 2006                 | 3,586                      | $                  7,457,480 |
|                                                                         |                       |                         |
|                                                                         |                       |                         |
| *See                  accompanying notes to condensed financial statements.* |                       |                         |
|                                                                         |                       |                         |
|                                                                         |                       |                         |
|                                                                         |                       |                         |

----

| ***United                  States Oil Fund, LP***                                                   |   |                                                                                                                                                                                                                                                                                        |
|-----------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ***Statement                  of Operations,***                                                     |   |                                                                                                                                                                                                                                                                                        |
| ***Period                  From April 10, 2006 (commencement of                  operations)***     |   |                                                                                                                                                                                                                                                                                        |
| ***to                  June 30, 2006 (unaudited)***                                                 |   |                                                                                                                                                                                                                                                                                        |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| **Net                  Realized and Unrealized Gain (Loss) from                  Investments**      |   |                                                                                                                                                                                                                                                                                        |
|     Net                  realized loss on futures transactions                  |   | $                                                    (11,408,150)                                                 |
|     Net                  unrealized appreciation on futures transactions        |   | 7,457,480                                                                                                                                                                                                                                                                                   |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|     Net                  realized and unrealized loss from futures transactions |   | (3,950,670)                                                                                                                                                                                                                                                                                 |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| **Investment                  Income**                                                              |   |                                                                                                                                                                                                                                                                                        |
| Interest                  income                                                                    |   | 1,883,807                                                                                                                                                                                                                                                                                   |
| Other                  income                                                                       |   | 41,000                                                                                                                                                                                                                                                                                      |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|         Total                  income                       |   | 1,924,807                                                                                                                                                                                                                                                                                   |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| **Expenses**                                                                                        |   |                                                                                                                                                                                                                                                                                        |
| Management                  fee                                                                     |   | 219,023                                                                                                                                                                                                                                                                                     |
| Commission                  expense                                                                 |   | 70,300                                                                                                                                                                                                                                                                                      |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|         Total                  expenses                     |   | 289,323                                                                                                                                                                                                                                                                                     |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| **        Net                  investment income**          |   | 1,635,484                                                                                                                                                                                                                                                                                   |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| **Net                  loss**                                                                       |   | $                                                      (2,315,186)                                      |
| **Net                  loss per weighted average limited partnership                  unit**        |   | $                                              (0.79) |
| **Weighted                  average limited partnership units outstanding**                         |   | 2,928,049                                                                                                                                                                                                                                                                                   |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
| *See                  accompanying notes to condensed financial statements.*                        |   |                                                                                                                                                                                                                                                                                        |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |
|                                                                                                |   |                                                                                                                                                                                                                                                                                        |

----

| ***United                  States Oil Fund, LP***                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ***Statement                  of Changes in Partnership Capital,***                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
| ***Period                  From April 1, 2006***                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
| ***to                  June 30, 2006 (unaudited)***                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   | General                  Partner                                                                                                                                                                                                                                                                                          | Limited                  Partners                                                                                                                                                                                                                                                                                      |   | Total                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                                                                                                  |
| Balance                  at April 1, 2006                                                                                                                                                                                                                              |   $                                                             20                       |                    $                                                              980 |   | $                                              1,000 |
| Capital                  contributions (6,400,000 limited units                  issued)                              |                                                                    - | 446,045,676                                                                                                                                                                                                                                                                                                            |   |                        446,045,676                                            |
| Capital                  withdrawals (2,600,000 limited units                  redeemed)                                                            |                                              (20)                                        | (178,400,559)                                                                                                                                                                                                                                                                                                          |   | (178,400,579)                                                                                                                                                                                    |
| Net                  loss for the period                                                                                                                                                                                                                               |                                                   -             | (2,315,186)                                                                                                                                                                                                                                                                                                            |   | (2,315,186)                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
| Balance                  at June 30, 2006                                                                                                                                                                                                                              |   $                                                               -            |                     $                                               265,330,911                                                                             |   |                        $                                  265,330,911                   |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                              |   |                                                                                                                                                                                        |
| *See                  accompanying notes to condensed financial statements.*                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                             |

----

| ***United                  States Oil Fund, LP***                            |   |                                                                                                                                                                                                                                                                           |
|------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ***Statement                  of Cash Flows,***                              |   |                                                                                                                                                                                                                                                                           |
| ***Period                  From April 1, 2006***                             |   |                                                                                                                                                                                                                                                                           |
| ***to                  June 30, 2006 (unaudited)***                          |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| **Cash                  Flows from Operating Activities**                    |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| Net                  Loss                                                    |   | $                                                          (2,315,186) |
| Unrealized                  appreciation on futures contracts                |   | (7,457,480)                                                                                                                                                                                                                                                                    |
| Adjustments                  to reconcile net loss to net cash               |   |                                                                                                                                                                                                                                                                           |
| used                  in operating and investing activities                  |   |                                                                                                                                                                                                                                                                           |
| Changes                  in:                                                 |   |                                                                                                                                                                                                                                                                           |
| Deposits                  with broker                                        |   | (31,860,575)                                                                                                                                                                                                                                                                   |
| Interest                  receivable and other assets                        |   | (143,636)                                                                                                                                                                                                                                                                      |
| Investment                  advisory fee payable and other liabilities       |   | 98,023                                                                                                                                                                                                                                                                         |
| Net                  cash used in operating                                  |   |                                                                                                                                                                                                                                                                           |
| and                  investing activities                                    |   | (41,678,854)                                                                                                                                                                                                                                                                   |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| **Cash                  Flows from Financing Activities**                    |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| Capital                  contributions by limited partners                   |   | 432,159,628                                                                                                                                                                                                                                                                    |
| Capital                  withdrawals                                         |   | (164,819,713)                                                                                                                                                                                                                                                                  |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| Net                  cash provided by financing activities                   |   | 267,339,915                                                                                                                                                                                                                                                                    |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| Net                  change in cash and cash equivalents                     |   | 225,661,061                                                                                                                                                                                                                                                                    |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| Cash                  beginning of period                                    |   | 1,000                                                                                                                                                                                                                                                                          |
| Cash                  end of period                                          |   | $                                        225,662,061                   |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| **Supplemental                  Disclosure of Non Cash Activities**          |   |                                                                                                                                                                                                                                                                           |
| Receivable                  for units sold                                   |   | $                                                          13,886,048  |
| Payable                  for units redeemed                                  |   | $                                       (13,580,866)                        |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
|                                                                         |   |                                                                                                                                                                                                                                                                           |
| *See                  accompanying notes to condensed financial statements.* |   |                                                                                                                                                                                                                                                                           |

----

**UNITED        STATES OIL FUND, LP **

**Note        A - Basis of Presentation**

**Note        B - Organization**

On        April        10, 2006, the Fund listed its Units on the American Stock Exchange under        the        ticker symbol “USO”. On that day, the Fund established its initial NAV by        setting the price at $67.39 per Unit and issued 200,000 Units to the Initial        Authorized Purchaser, KV Execution Services LLC, in exchange for $13,478,000.        The Fund also commenced investment operations on that day by purchasing oil        futures contracts traded on the New York Mercantile Exchange that are based        on        West Texas Intermediate light, sweet crude oil. 

----

**Note        C - Summary of Significant Accounting Policies**

**(1)        Securities valuation:**

**(2)        Cash equivalents**

**(3)        Securities transactions and investment income:**

**(4)        Futures contracts:**

**(5)        Options:**

**(6)        Swaps:**

**(7)          Forward contracts:**

**(8)        Use of estimates:**

----

**(9)        Deposits with brokers**

**Note        D - Offering and Organization        Costs**

**Note        E - Management Fee**

**Note        F - Income Taxes**

**Note        G - Redemptions**

**Note        H - Partnership Capital and Allocation of Partnership        Income and Losses**

**Note          I - Calculation of Net Asset          Value**

**Note        J - Commitments and Contingencies**

----

**Note          K - Loss per Limited Partnership Unit**

----

**Note          L - Financial Highlights**

**Per        Unit Performance**

|                    Net Asset Value, at April 10, 2006 (commencement of                  operations)                                                                                                             |   | $        67.39 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------|
|                    Net investment income                                                                                                                                                                        |   | 0.56                                                   |
|                    Net realized and unrealized gain from investments (net of aggregate                  losses                  for the period attributable to redeemed limited partner                  units) |   | 1.87                                                   |
|                    Net increase                                                                                                                                                                                 |   | 2.43                                                   |
|                    Net asset value, at June 30, 2006                                                                                                                                                            |   | $        69.82 |
|                                                                                                                                                                                                                 |   |                                                   |
| **Total                  Return (not annualized)**                                                                                                                                                                   |   | 3.61%                                                  |
|                                                                                                                                                                                                                 |   |                                                   |
| **Ratios                  to average net assets**                                                                                                                                                                    |   |                                                   |
| Total                  expenses (a)                                                                                                                                                                                  |   | 0.66%                                                  |
| Net                  investment income (a)                                                                                                                                                                           |   | 3.73%                                                  |
|                                                                                                                                                                                                                 |   |                                                   |

| (a)   | Annualized |
|-----------------|------------|

----

| **Item 2.** | **Management’s                  Discussion and Analysis of Financial Condition and Results of                  Operations** |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------|

*Forward-Looking        Information*

**Introduction**

**Valuation          of Crude Oil Futures Contracts and the Computation of the Net Asset          Value**

----

**Management’s        Discussion of Results of Operation and the Crude Oil        Market**

*Results        of operations. *

*Portfolio        Expenses*

*Interest        Income*

*Tracking        USOF’s Benchmark*

----

*i.e*

----

----

*Crude        oil market.*

----

**Critical        Accounting Policies**

**Liquidity        and Capital Resources**

**Market        Risk**

----

**Credit        Risk**

**Off        Balance Sheet Financing**

**,**

**Redemption        Basket Obligation**

----

**Contractual        Obligations**

| **Item 3.** | **Quantitative                  and Qualitative Disclosures About Market                  Risk** |
|------------------|--------------------------------------------------------------------------------------------------|

| **Item 4.** | **Controls                  and Procedures** |
|------------------|----------------------------------------------|

**Part        II - Other Information**

| **Item 1.** | **Legal                  Proceedings** |
|------------------|----------------------------------------|

| **Item 1A.** | **Risk                  Factors** |
|-------------------|-----------------------------------|

----

| **Item 2.** | **Unregistered                  Sales of Equity Securities and Use of                  Proceeds** |
|------------------|---------------------------------------------------------------------------------------------------|

| **Item 3.** | **Defaults                  Upon Senior Securities** |
|------------------|------------------------------------------------------|

| **Item 4.** | **Submission                  of Matters to a Vote of Security                  Holders** |
|------------------|-------------------------------------------------------------------------------------------|

| **Item 5.** | **Other                  Information** |
|------------------|----------------------------------------|

**Monthly        Account Statements**

| **Item 6.** | **Exhibits** |
|------------------|--------------|

|   |         |                                                                                                                                                                                                                       |
|--------|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1   |    | Certification                  by Principal Executive Officer Pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002.                                                                                  |
|   |         |
| 31.2   |    | Certification                  by Principal Financial Officer Pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002.                                                                                  |
|   |         |
| 32.1   |    | Certification                  by Principal Executive Officer Pursuant to 18 U.S.C. Section 1350,                  As                  Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of                  2002. |
|   |         |
| 32.2   |    | Certification                  by Principal Financial Officer Pursuant to 18 U.S.C. Section 1350,                  As                  Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of                  2002. |

----

**SIGNATURES        **

| United                  States Oil Fund, LP (Registrant) By:                  Victoria Bay Asset Management, LLC, its general partner |
|--------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                       |
|                                                                                                                                       |
|                                                                                                                                       |
| By:                  /s/    Nicholas D. Gerber                                 |
| **Nicholas                  D. Gerber**                                                                                                    |
| **Chief                  Executive Officer****(Principal                  executive officer)**                                        |
|                                                                                                                                       |
|  Date:                  August 8, 2006                                                                                           |
|                                                                                                                                       |
| By:                  /s/ Howard Mah                                            |
| **Howard                  Mah**                                                                                                            |
| **Chief                  Financial Officer****(Principal                  financial officer)**                                        |
|                                                                                                                                       |
|  Date:                  August 8, 2006                                                                                           |