Trade gap widens amid oil surge

NEW YORK -- The U.S. trade deficit widened in October, coming in above Wall Street's expectations, as higher oil prices and a continued increase in Chinese imports fueled the gap, according to the government's latest reading. The Commerce Department said Wednesday imports exceeded exports by $57.8 billion, even as a weak dollar helped to lift exports to record levels. That is up from a gap of $57.2 billion in September, which was revised higher, although it's below the $58.2 billion figure in October 2006.