Crude prices higher in London, New York

Crude oil prices ended higher in New York Tuesday on a day when prices bounced around a bit on more bad economic news.

Ford Motor (NYSE: F) said that its US sales were down 48 percent in February despite attractive offers to lure buyers into showrooms, while the National Association of Realtors said that its index of pending home sales was down 7.7 percent in January.

Both results indicated that any recovery from the current recession is not in sight.

Meanwhile, US inventories reports, due Wednesday, are expected to show that crude oil stockpiles grew last week but that gasoline inventories were down.

April contracts for West Texas Intermediate crude added $1.50 to close at $41.65 per barrel on the New York Mercantile Exchange, while at last report Brent crude was up $1.53 to $43.74 per barrel on the ICE Futures Europe exchange in London.

Nymex April gasoline and heating oil prices were up around 3 cents each, to $1.32 per gallon and $1.18 per gallon respectively.

Retail prices for gasoline in the US added 0.1 cent overnight to $1.93 per gallon.