Oil Exports Narrow US Trade Deficit in April

The United States has witnessed surging demand for American energy during the Iranian conflict.

Oil tankers sit anchored off the coast of Seal Beach in Seal Beach, Calif., on March 17, 2026. Justin Sullivan/Getty Images

Rising crude oil exports continued making a dent in the U.S. trade deficit, new government data released on June 9 show.

The international goods and services trade deficit narrowed 1.2 percent, or about $600 million, to $55.9 billion in April, according to the Bureau of Economic Analysis. This came in slightly below economists’ expectations of $56.1 billion.