Oil dips to $47.54

Global crude oil prices cooled off yesterday after rising sharply in the last few trading sessions. While the Nymex U.S. light crude oil for March delivery fell 79 cents to $47.54 a barrel, the London Brent crude slipped 36 cents to close at $45.80 per barrel.

In the metal segment, the COMEX gold jumped $1.70 to settle at $428.60 an ounce.