Oil slides to $44.24

The oil prices on the New York Mercantile Exchange dropped more than 3% yesterday following the US government report, which showed a increase in the fuel stockpiles.

While the US light crude for February delivery shed $1.52, or 3.3%, to $44.24 per barrel, the London February Brent fell $1.73 to close at $40.64 a barrel.

In the metal segment, COMEX gold dipped $1.50 to finish at $441.40 an ounce.