The second-quarter trade deficit hit $36 billion.

The U.S. foreign trade deficit for April through June totaled $36.02 billion despite a dramatic plunge in the price of imported oil, the Commerce Department said. The deficit was down 1.2% from the first quarter’s imbalance. The new report was in line with figures released earlier that showed a higher deficit for the second quarter of $40.45 billion. The discrepancy exists because the new report covers trade on a balance-of-payments basis, which omits such factors as the cost of shipping and insurance.