Oil prices hit new lows, gold dips

London

OIL prices extended their slide last week, kicking off the new year with 5½-year low points, as tepid eurozone demand offset a pick-up in the US economy.

The dollar strengthened, hitting demand for commodities such as crude and metals priced in the US unit. Crude prices slumped to new 5½-year low points on Friday, the first trading day of 2015, on signs of weak manufacturing output in Europe.