Jun 17 2009
USA Export: Oil Widens the Trade Gap… Two Times
The USA Export number for April was at a 35 month low. The Imports number for April dropped also, however, slightly. The reports from the Census Bureau show a larger deficit when combining both the imports and the exports. Oil is a big part of why it is now wider. There are 2 reasons:
1) The US imported almost 3 million barrels more oil than in March.
2) The cost of oil went up from $41.36/barrel in March to 46.60/barrel in April.
