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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: John McCarthy9/12/2006 9:58:00 AM
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From: Wade 9/12/2006 8:40:26 AM
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money.cnn.com

Trade gap hits record

Higher oil prices lifts July gap between imports and exports above mark set in the wake of hurricanes Katrina and Rita last October.
September 12 2006: 8:37 AM EDT

NEW YORK (CNNMoney.com) -- Rising oil prices increased the U.S. trade gap in July to a record high, the government reported Tuesday, as the deficit between imports and exports soared above forecasts.

The Commerce Department reported that U.S. the trade gap reached $68 billion in July, up from $64.8 billion reported in June. Economists surveyed by Briefing.com had forecast that the gap would rise to $65.5 billion.

The previous record gap was $66.6 billion in October, when high oil prices and a jump in gasoline imports in the wake of hurricanes Katrina and Rita swelled the gap.

The average price of a barrel of imported oil hit a $64.84 in July, also a record high.

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