October 14, 2010

$22.55 Billion Spent On Foreign Oil In August

The monthly trade deficit numbers were released today. The overall trade deficit for August stands at $46.35 billion, up from $42.58 billion in July. Oil accounted for almost half of the deficit at $22.55 billion.

The U.S. bill for crude oil imports in August also increased slightly to $22.55 billion from $22.47 billion the month before. Prices rose to $73.47 a barrel but consumption slipped to 306.91 million barrels.

Source : Wall Street Journel

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