Oil price eases to $48.78

Oil prices eased further in the international market. The NYMEX U.S. light crude oil for Februay delivery dropped 3.3% in early trades, but ended off-lows to settle 1.7% lower at $48.78 a barrel.

In the metal segment, the COMEX gold rose $4.80 to finish at $426.90 an ounce.