Seven things now more expensive than a barrel of oil
Despite modest gains last week, the benchmark West Texas Intermediate oil price tumbled 7.5 per cent to US$29.76 a barrel before rebounding slightly to $30.68 mid-day on Tuesday. A major catalyst in the staggering lows is Iraq’s announcement of record-high oil production with intentions to feed that into an already over-supplied market.
Click through to find out what is now more expensive than a record-low barrel of oil. --Andrew Seale