Oil prices make U.S. Trade Gap widen

Oil prices have made the U.S. trade deficit ballooned in November, as the price of the black gold jumped more than $5 per barrel to $72.54, the highest since October 2008.

The monthly trade gap grew to nearly 10 percent to $36.4 billion, a Commerce Department report showed on Tuesday. However Analysts have said that the trade data was generally good news for the economy. Macroeconomic Advisers estimate of U.S.

The news had little effect on the financial markets. U.S. stocks opened lower, weighed down by disappointing earnings from Alcoa Inc and an earnings warning from Chevron Corp.

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