Exhibit 99.1

United States Heating Oil Fund, LP

Monthly Account Statement

For the Month Ended May 31, 2008

Statement of Income (Loss)
Income
Realized Trading Gain (Loss)	$	2,218,318
Unrealized Gain (Loss) on Market Value of Futures		228,400
Interest Income		24,995
Total Income (Loss)	$	2,471,713
Expenses
Investment Advisory Fee	$	8,968
K-1 Tax Expense		47,445
Audit Fees		14,925
Brokerage Commissions		1,265
NYMEX License Fee		527
Non-interested Directors' Fees and Expenses		313
Total Expenses		73,443
K-1 Tax Expense Waiver		(44,946	)
Audit Fees Waiver		(13,952	)
Net Expenses	$	14,545
Net Gain (Loss)	$	2,457,168
Statement of Changes in Net Asset Value
Net Asset Value Beginning of Period 5/1/08	$	15,425,883
Net Gain (Loss)		2,457,168
Net Asset Value End of Period	$	17,883,051
Net Asset Value Per Unit (300,000 Units)	$	59.61

To the Limited Partners of United States Heating Oil Fund, LP:

Pursuant to Section 4.22(h) of the Commodities Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended May 31, 2008 is accurate and complete.

/s/ Nicholas D. Gerber 

Nicholas D. Gerber

President and Chief Executive Officer

United States Commodity Funds LLC, General Partner of United States Heating Oil Fund, LP

United States Commodity Funds LLC

1320 Harbor Bay Parkway

Suite 145

Alameda, CA 94502