NEW YORK (CNNMoney.com) -- Oil fell below $79 a barrel Tuesday, retreating from a five-day rally on a stronger dollar.
What prices are doing: Crude oil for April delivery dropped $1.27, or 1.6%, to $79.04 a barrel on Tuesday.
 |
| Click on the chart to view oil prices. |
On Monday, oil advanced as the dollar lost ground versus major currencies.
What's driving prices: A report from the Conference Board showed that the Consumer Confidence index fell sharply in February to 46 from 56.5 in the previous month.
Economists surveyed by Briefing.com expected the index to decline slightly to a reading of 55.
"When you get a shocking drop in consumer confidence like that, it does raise questions about the sustainability of the economic recovery," said Phil Flynn, a senior market analyst at PFG Best.
And a healthy economy requires more oil to operate -- whether for vehicles or in manufacturing.
Oil prices were also pressured by a stronger dollar, which advanced against the euro and the U.K. pound. Oil and other commodities that are priced in dollars often fall when the U.S. currency strengthens.
What analysts are saying: "Oil prices are in a choppy trading range and are ultimately going to go lower," said Flynn. "We're lower than where we were when we started the year and lower than where we were last month -- it's going to be a long, arduous ride but we'll keep going lower."
In the next few weeks, Flynn said prices may stay in a trading range of $70 to $80 a barrel, but prices could fall as low as $40 a barrel by the end of the year, as warmer weather reduces demand for oil. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
|
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |
