Oil price rises to $47.44

Global oil prices shot up yesterday as the Nymex U.S. light crude oil for March series gained 28 cents to settle at $47.44 a barrel, while the London Brent crude added 25 cents to close at $45.50 per barrel.

In the metal segement, the COMEX gold jumped $5.30 to $427.30 an ounce.