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MW: Oil futures rise 3% on stock gains, weak dollar
 
Crude-oil futures rose Friday for a fourth session, climbing above $50 as Ford's smaller-than-expected quarterly loss helped U.S. stock futures move higher and boosted sentiment in energy trading, outweighing excessive buildup in crude inventories.
Crude for June delivery gained $1.65, or 3.3%, to $51.27 a barrel in early North American electronic trading.
"A weaker U.S. dollar and rising stock markets provided support" for oil prices, said analysts at Commerzbank.
U.S. stock futures gained on Friday, losing only a bit of steam after data showing the recession worsened in March, which somewhat dampened early enthusiasm over quarterly results at Microsoft Corp. and Ford Motor Co. .
Demand for U.S.-made durable goods fell 0.8%, the seventh decline in the past eight months, the Commerce Department estimated Friday. Still, inventories fell 1.1%, an encouraging sign that manufacturers are getting their supplies of unsold goods more in line with demand. See Economic Report.
In the currency markets, the dollar lost ground versus major rivals Friday.
The dollar index , a measure of the U.S. unit against a trade-weighted basket of currencies, traded at 84.62, down from 85.353 in North American trade late Thursday. See Currencies.
Dollar weakness typically boosts dollar-denominated commodities because it makes them cheaper for holders of other currencies.
Also on Globex, May reformulated gasoline rose 4 cents to $1.43 a gallon and May heating oil gained 4 cents to $1.36 a gallon.
May natural gas futures fell 2 cents to $3.39 per million British thermal units.
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