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Message: Re: As goes Oil so goes Nat gas

Nov 13, 2009 08:21AM

I just read in International trade report:

Highlights
The U.S. international trade deficit in September widened significantly on higher oil imports. But the good news is that the freeze up in global trade appears to be thawing as U.S. export rose significantly.

I have seen for some time now, that the US makes it very good on their export. but take a look on this:

The worsening of the trade deficit was led by a wider petroleum shortfall which came in at $20.5 billion compared to $16.6 billion the previous month.

The widening in the petroleum deficit was due to both more barrels imported and higher prices. Physical barrels imported increased 6.6 percent in September after dropping 9.4 percent the month before. The price of imported oil rose to $68.17 per barrel from $64.75 in August.

I dont know, cause you would have to look into the sectors, but an us petroleum import from canada could improve:

Overall, the rise in export appears to be more real than the boost in imports. Imports were up on higher oil prices, more barrels of oil, and more automotive imports from Canada.

http://bloomberg.econoday.com/byshoweventfull.asp?fid=438055&cust=bloomberg&year=2009#top

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