The U.S. trade deficit hit a new high of $68 billion in July. The main reason was that the cost of oil imports rose. The figure represents a 5% rise from June's figure. 2006 as a whole is expected to go over 2005's 717 billion. Crude oil imports rose $28.5 billion.
Read the story from the BBC
technorati tag: economy
technorati tag: oil
