The first trade surplus in petroleum in more than forty years helped the U.S. post a lower trade deficit in September compared to August, but overall U.S. exports and imports in all sectors also declined as trade spats, tariffs, and slowing global growth weighed on trade. For the first time since 1978, the U.S. recorded a surplus in the petroleum trade, at US$252 million in September, government data showed on Tuesday. The value of petroleum exports stood at US$14.966 billion, while imports were at US$14.714 billion. Both exports and imports in petroleum products in September were lower than in August, which also contributed to the first surplus in the oil trade in 41 years. The total American deficit in international trade of goods and services fell to US$52.45 billion in September from US$55.036 billion in August, with both imports and exports lower in September than in August. Year to […]