Trade gaps widens in Nov on higher oil
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The trade deficit jumped in November to its highest level in 14 months as surging oil prices overpowered a ninth consecutive month of record exports, the Commerce Department said on Friday.
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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 trade deficit jumped sharply in November, rising to $60.3 billion, increasing by 7 percent over the month before.
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The U.S. trade deficit widened in  August to its second-highest level on record, fueled by the  highest oil import prices in 23 years and record imports from  China, the U.S. government said on Thursday.
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The U.S. trade deficit narrowed more than expected in September as a rise in exports to unprecedented levels offset the impact of record-high prices for imported oil, a government report showed on Wednesday.
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The US trade deficit widened in the first three months of 2007, official data shows, following higher oil prices.
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Oil rose towards $60 a barrel on Friday  in trade muted by the long U.S. Thanksgiving holiday weekend,  after tumbling on a rise in stockpiles in the world's top oil  consumer.
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The U.S. trade deficit widened more than expected in August to its second-highest level on record, fueled by the highest oil import prices in 23 years and record imports from China, the U.S. government said on Thursday.
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The U.S. trade deficit narrowed more  than expected in September as a rise in exports to  unprecedented levels offset the impact of record-high prices  for imported oil, a government report showed on Wednesday.
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The UK trade deficit widened in November from the month before, official figures show.
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The US trade deficit hit a record high of $60.3 billion in November as American appetites for foreign oil and even imported food reached record levels.
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The U.S. trade gap widened in May as  higher oil prices and a rising tide of Chinese goods pushed  imports to a record, overshadowing a strong export performance,  a government report showed on Thursday.
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The costs of imported goods rose less in November than a month earlier, restrained by a drop in petroleum prices that may help boost consumer spending and the US economy.
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U.S. crude oil climbed above $60 a barrel  for the first time in a month on Friday, extending a gain of $2  a day earlier, amid signs of falling crude exports from  producer group OPEC.
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The trade deficit widened as  expected in May, as higher oil prices helped lift imports to an  all-time high, swamping a boost to exports from stronger  overseas growth and a weaker dollar, a government report showed  on Thursday.
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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' hardy demand for imported oil and foreign-made goods.
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The U.S. trade deficit widened  unexpectedly in November to a record $60.3 billion, propelled  by the highest-ever oil import bill and a drop in exports, a  government report showed on Wednesday.