The U.S. trade deficit reached $105.6 billion in August, the largest monthly gap since early 2025, as total imports climbed to a record $420.8 billion.

Economists had expected the deficit to reach about $102.1 billion. The larger-than-expected increase came as the United States brought in more petroleum, gold and AI-related computer chips.

The surge in petroleum imports comes as global energy markets face mounting supply pressures. The war with Iran has disrupted tanker traffic through the Strait of Hormuz, while Ukrainian strikes on Russian refineries have further reduced available fuel supplies from two major oil-producing regions.

U.S. diesel prices also climbed above $6 per gallon for the first time last month. The Environmental Protection Agency has repeatedly waived certain fuel requirements in an effort to increase available domestic supplies.

Governments have also turned to emergency oil reserves as the supply situation has tightened. Members of the International Energy Agency agreed in March to release 400 million barrels from strategic reserves, the largest coordinated release in the agency’s history. The United States pledged to contribute 172 million barrels from its own reserve.

Despite the emergency releases, global oil inventories have fallen by roughly 410 million barrels since the war began. European governments are now considering another coordinated release of reserves, while the Trump administration is pressing European countries to increase oil supplies to the global market.

The combination of higher energy imports and record overall imports contributed to the widening U.S. trade gap, underscoring the impact that ongoing geopolitical conflicts and disruptions to global energy supplies are having on the American economy.