Surge in crude oil exports counteracts influx of imported AI infrastructure, unexpected narrowing of US trade deficit in April.

According to the financial news app, the US trade deficit narrowed in April due to a surge in crude oil exports, helping to offset the continued growth in imports of equipment powering data center construction. Data released by the US Department of Commerce on Tuesday showed that the trade deficit for goods and services in April narrowed by 1.2% from the previous month to $559 billion, below the economists' median estimate of $561 billion. In April, exports increased by 2.6% from the previous month, mainly driven by a 60% growth in crude oil exports, as well as increases in fuel oil and other petroleum product exports; imports increased by 2%, primarily driven by imports of computers and semiconductors.