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Oil imports drove May trade deficit to $50.2B

The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports.

 

Oil down 5 percent, gasoline drop briefly halts U.S. trade

Oil prices tumbled nearly 5 percent on Wednesday, as easing supply concerns sent gasoline into a tailspin that briefly forced trading on the New York Mercantile Exchange to stop.

 

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