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