Crude for May delivery settled at US$49.6 a barrel on the Nymex. Crude oil have been propped up by robust investment sentiments arising out of recovering stock markets as well as the weakening dollar that makes commodities less attractive. Oil prices have gained by 11% in the month despite fresh data indicating a slump in US home values and another rise speculated in US crude inventories last week of 3.2 mln barrels. Home values in 20 major US cities fell a record 19% in the 12 months ending in January.
02-Apr-09 
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