Oil slips to $55/bbl

Crude oil, which rose nearly 4% on Monday, heaved a sigh of relief yesterday ahead of the OPEC meet. While the Nymex U.S. light crude oil for July delivery fell 62 cents to $55 a barrel, the London Brent crude dipped $1 to $53.74 per barrel.

The commodity segment saw the Comex gold drop $1.80 to settle at $429.30 an ounce.