Account Deficit Hits Record on Oil Demand
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The deficit in the broadest measure of trade climbed to a record high of $164.7 billion in the third quarter of this year, reflecting Americans&#39; hardy demand for imported oil and foreign-made goods.
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The U.S. trade deficit soared to a record of &#36;617.7 billion last year as Americans' appetite for all things foreign, from crude oil to cars, hit all-time highs. The United States even rang up a deficit in farm goods as imports of wine, cheese and other food products hit a record.
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Oil prices struck a fresh record high  above $47.50 a barrel on Thursday as fresh evidence of demand  growth in China and India underlined how rising appetite for  oil is straining the world's supply system.
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Oil vaulted to a record $100 a barrel on Wednesday as geopolitical turmoil, tight energy stockpiles in consumer countries, and a weak dollar triggered a flood of speculative buying, dealers said.
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The U.S. trade deficit jumped 6.5 percent to a record $763.6 billion last year as high oil prices and Americans' appetite for foreign-made goods outpaced strong exports.
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A record jump in the price of imported oil pushed the trade deficit to &#36;63.8 billion in May, offsetting robust overseas sales gains by American companies.
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The U.S. trade deficit widened much  more than expected in July to a record $68 billion dollars as  record oil prices pushed America's monthly oil import bill to  an all time high, a government report showed on Tuesday.
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Oil futures hit a record high Friday as the government began lending oil from emergency reserves to refineries running low on crude after Hurricane Ivan.
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Commodities rise to record levels on demand, dollar depreciation.
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Oil prices struck a fresh record today on violence in Iraq and evidence that strong demand growth in China and India has not slowed due to higher energy costs.
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WASHINGTON -- The U.S. trade deficit set a fifth consecutive annual record in 2006, reflecting a huge jump in America's foreign oil bill and an all-time high for the trade gap with China. The year ended with the December deficit increasing more than had been expected.
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The trade deficit increased to the second-highest level in history as surging demand for foreign oil swamped a small gain in US exports, the government reported yesterday.
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The U.S. trade deficit, propelled by a record foreign oil bill, surged to &#36;54 billion in August, the second highest level in history. The politically sensitive deficit with China hit a new high as American retailers upped their orders for cell phones, toys and televisions.
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NEW YORK -- Oil futures rose to a new record of $100.09 a barrel Thursday after the government reported a larger-than-expected decline in crude oil inventories and an unexpected rise in heating oil supplies.
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Oil soared to another record yesterday on worries that global energy supplies could shrink to critical levels during this winter heating season because of strong growth in demand.
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Surging oil costs helped widen the   U.S. current account deficit more than expected in the second   quarter and capital flows into the United States in July ebbed,   two government reports showed on Monday.
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The U.S. trade deficit widened much   more than expected in July to a record $68 billion dollars as   record oil prices pushed America's monthly oil import bill to   an all time high, a government report showed on Tuesday.