| From AP: Higher oil prices are slowing global economic growth, and the impact is likely to spread in coming months. Oil prices helped raise the U.S. trade deficit to a seven-month high in January, when crude prices were $87.50 a barrel.
Oil is now trading at more than $100 a barrel, suggesting the gap will widen in coming months. Even fast-growing China isn't immune -- higher oil prices contributed to a rare trade deficit there in February..............................................Full Article: Source |