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Article: Crude oil falls to $49 a barrel
- Article from:
- AP Online
- Article date:
- April 14, 2009
- Author:
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Oil prices slid below $50 a barrel Tuesday, as stock markets lost ground on signs the economic recovery may not be as close as some thought.
The government, meanwhile, said drivers hitting the road this summer will pay far less for gasoline than they did last summer when prices hit a record $4.11 a gallon.
Benchmark crude for May delivery lost 76 cents at $49.29 a barrel on the New York Mercantile Exchange in afternoon trading.
Oil prices have traded near $50 a barrel for the last two weeks after jumping from below $35 in February as investors struggle to gauge the health of a global economy reeling from the longest recession in the U.S. since World War II.
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