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Economy
Oil price falls below $28 a barrel - less than cost of an actual barrel
2016-01-21
[MIRROR.CO.UK] Oil prices affect our daily lives, as consumers, drivers and commuters - but the new 12-year low in the cost of a barrel is an unusual situation.

With the lifting of sanctions against Iran, the market, already oversupplied, is expected to be flooded.

It's the anticipation of this which pushed the price of Brent crude down below $28 - or £19.60 - on Monday.

Bizarrely, that makes the cost of the oil inside a barrel less than the cost of a barrel itself.
Posted by:Fred

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