Afternoon Coffee: Crude Production Push Oil Prices Down, US Trade Deficit Narrows Kaitlyn McAvoy - June 3, 2015 12:03 PM | Categories: Afternoon Coffee | Tags: General News While crude oil inventories fell 1.9 million barrels last week, production in the US increased by 20,000 barrels – news that impacted oil prices today. Brent crude dropped 1.9% to $64.22 a barrel. Imports fell and exports increased during April, causing the US trade deficit to decrease by a level not seen since early 2009. Imports were down 3.3% to $230.8 billion and exports rose 1% to 189.9 billion last month. The Institute for Supply Management’s Non-Manufacturing Index came in at 55.7% for May, a drop from April, but still shows the sector is expanding. Business activity also took a slight 2.1% dip to 59.5% and new orders sank 2.3% to 57.9%. Supply management and enterprise CLM provider Selectica, Inc. announced it has appointment Patrick Stakenas, formerly from Gartner, as president and CEO and director for the firm. SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.