US trade deficit widens in May on higher oil prices

Washington

THE US trade deficit widened more than expected in May as rising oil prices helped to push up the import bill while exports were constrained by the lingering effects of a strong US dollar.

The Commerce Department said on Wednesday that the trade gap increased 10.1 per cent to US$41.1 billion. April's trade deficit was unrevised at US$37.4 billion.

Economists polled by Reuters had forecast the trad…