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US trade deficit widens

Oil

The US trade deficit widened in May by $1.2bn (or 2.9%) m-o-m to $41.9bn, data from the country's Department of Commerce shows. The rise was fuelled by a drop in exports, which slipped $1.5bn (or 0.8%) from the prior month to $188.6bn, as overseas demand for US made capital goods softened. However, the decrease in exports was limited by an increase in sales of US oil products and chemicals.