U.S. crude oil futures fell on Tuesday as concerns about the flu outbreak kept the prospects of economic recovery in doubt as they helped push equities lower and lifted the dollar. "Prices remain in a bit of a swoon as market participants fret that a potential influenza pandemic might prove fatal to the frail signs of recovery just beginning to show," Mike Fitzpatrick, vice president at MF Global in New York, said in a note. New Zealand and Israel confirmed cases of swine flu on Tuesday, the latest countries hit by a new strain that has killed up to 149 people in Mexico. [ID:nLS803449] The World Health Organization has raised its alert level to phase 4, indicating an increased risk of pandemic. PRICES * On the New York Mercantile Exchange at 9:37 a.m. EDT (1337 GMT), June crude CLM9 was down $1.16, or 2.31 percent, at $48.98 a barrel, trading from $48.55 to $50.19. * In London, June Brent crude LCOM9 fell $1.01, 2.01 percent, to $49.31 a barrel, trading from $48.88 to $50.42. * NYMEX May RBOB RBK9 fell 2.52 cents, or 1.8 percent, to $1.3780 a gallon, trading from $1.3659 to $1.4050. * NYMEX May heating oil HOK9 fell 1.83 cents, or 1.38 percent, to $1.3046 a gallon, trading from $1.2950 to $1.3288. * NYMEX May refined products contracts expire on Thursday. * The June/June RBOB crack spread <0#RB-CL=R> was at $9.05 a barrel. It ended at $9.01 on Monday. The June/June heating oil crack spread <0#CL-HO=R> was at $6.43. It ended at $6.19 on Monday. * The spread between the current front month and the five-year forward crude contract CLc61 was at $22.16, based on the June 2014 contract's Monday settlement of $71.14. The spread ended at $21.01 on Monday. TECHNICALS NYMEX crude 10-day/20-day moving average: $49.08/$49.76 Technical support/resistance: NYMEX crude: $48.40/$51.10 NYMEX heating oil: $1.29/$1.3650 NYMEX RBOB: $1.36/1.40 For a report on technicals click [ID:nLS361943] MARKET NEWS * U.S. stock markets slump at the open. [.N] * World stocks fell and investors took refuge in the yen and government bonds as a report that U.S. banks may need more capital compounded fears about a flu pandemic. [MKTS/GLOB] * The dollar and yen gained against other major currencies as risk aversion heightened on renewed U.S. banking sector concerns amid fears of a flu outbreak. [USD/] * U.S. single-family home prices fell 18.6 percent in February from a year earlier but the rapid pace of decline slowed, according to Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday. [ID:nNYS005024] * Abu Dhabi National Oil Co (ADNOC), the main oil producer for OPEC-member the United Arab Emirates, said it will reduce June supplies of its four main crude grades to Asia by 16-18 percent, versus 10-15 percent for May. [ID:nSP466166] * A Reuters analyst survey on Monday yielded a forecast for crude supplies to have risen 2.2 million barrels last week, which would be an eighth consecutive increase. Distillate supplies were seen up 300,000 barrels, gasoline down 300,000 barrels and refinery use up 0.2 percentage point.

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