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Trade Deficit in U.S. Unexpectedly Narrows on Oil Imports

The trade deficit in the U.S. unexpectedly shrank in February as stabilizing overseas markets boosted exports and Americans imported less oil.

The gap narrowed by 3.4 percent to $43 billion from a revised $44.5 billion in January, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg survey of 66 economists called for the deficit to be little changed at $44.6 billion. The number of barrels of crude oil imported into the U.S. in February was the smallest since 1996.