Right now Brent crude is cheaper than the barrel it comes in
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Right now Brent crude is cheaper than the barrel it comes in
Brent crude oil futures dropped to a 12-year low Tuesday, at around $28.
Over the holiday weekend, some people pointed out on Twitter that a lot of crude oil is now cheaper than the barrels they come in. Of course, plenty of oil isn’t actually transported in barrels, but the point still stands: oil is very cheap, cheaper than a lot of stuff.
Which stuff? We crunched the numbers to find out. Here’s a non-comprehensive guide to things that are more expensive than a barrel of crude right now:
That’s not to say you’re getting a great deal by buying a barrel of crude right now. As we learned from Bloomberg reporter Tracy Alloway last year, investing in crude by literally buying oil and keeping it in your house is more trouble than it’s worth.
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