U.S. crude oil futures fell on Tuesday as weak equities markets, a stronger dollar and caution ahead of inventory data reports sent oil on another test of support below $50 a barrel. "Crude and products futures dropped overnight as risk appetite eroded again in the currency markets, causing investors to seek safe haven in the dollar," Addison Armstrong, analyst at Tradition Energy, said in a report. Traders remained cautious ahead of U.S. weekly inventory reports due Tuesday afternoon from the American Petroleum Institute and on Wednesday from the U.S. Energy Information Administration. An initial Reuters poll on Monday yielded a forecast for crude supplies to have risen 2.1 million barrels last week and refined product supplies to have fallen. [EIA/S] PRICES * On the New York Mercantile Exchange at 9:43 a.m. (1343 GMT), May crude CLK9 was down $1.43, or 2.8 percent, at $49.62 a barrel, trading from $49.34 to $51.82. * In London, May Brent LCOK9 crude fell 94 cents, 1.8 percent, to $51.30 a barrel, trading from $51.02 to $53.18. * NYMEX May RBOB RBK9 fell 2.06 cents, or 1.4 percent, to $1.4549 a gallon, trading from $1.4480 to $1.4970. * NYMEX May heating oil HOK9 fell 2.51 cents, or 1.77 percent, to $1.3940 a gallon, trading from $1.3906 to $1.4350. * The May/May RBOB crack spread <0#RB-CL=R> was at $11.57 a barrel. It ended at $10.17 on Friday. The May/May heating oil crack spread <0#CL-HO=R> was at $9.07. It ended Friday at $8.22. * The spread between the current front month and the five-year forward crude contract CLc61 was at $27.49, based on the May 2014 contract's Monday settlement at $77.11. The spread ended at $26.06 on Monday. TECHNICALS NYMEX crude 10-day/20-day moving average: $51.23/$50.15 Technical support/resistance: NYMEX crude: $50.54/$54.66 NYMEX heating oil: $1.3630/$1.5345 NYMEX RBOB: $1.4205/1.5755 For a report on technicals click [ID:nL787343] MARKET NEWS * The dollar and yen rose as equity markets took a sharp turn lower on concerns about the banking sector that tempered recent optimism over the global economy. [USD/] * U.S. stock markets opened lower on concerns the International Monetary Fund was set to forecast toxic assets on the balance sheets of financial corporations could reach $4 trillion. [.N] * World stocks turned lower and European currencies fell after data showed the euro zone economy shrank more than previously thought. [MKTS/GLOB] * The International Energy Agency, OPEC and the U.S. Energy Information Administration will be releasing 2009 global demand projections between April 10 and 15 that are expected to be reduced again. [ID:nL6146487] * OPEC can live with oil prices of $50-$60 a barrel for the rest of 2009, a source close to OPEC's Angolan presidency said on Tuesday. [ID:nL7523851]

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