US oil prices slip below $50 a barrel

US oil prices Monday slipped below $50 a barrel for the first time in more than five years as the surging dollar and news of additional supplies extended a six-month rout. The contract got as low as $49.95 a barrel earlier in the session, its lowest level since May 1, 2009. European benchmark Brent oil for February delivery fell $3.31 to $53.11 a barrel in London. Monday's slide in oil prices followed indications of rising output from key producers Russia and Iraq at a time when forecasters