Crude prices retreat after hitting $50

NEW YORK, Jan. 6 (Chinese media) -- Crude futures retreated

after hitting 50 U.S. dollars a barrel as the weak economic data refreshed

demand concerns.

The U.S. government said orders to factories fell for

a record fourth straight month in November. The 4.6 percent decline was nearly

double the 2.5 percent drop economists expected.

Meanwhile, an index of activity in the U.S. services

sector contracted at a slower pace in December as new orders and employment

improved.

The National Association of Realtors reported that

pending home sales fell to the lowest level on record in November.

Light, sweet crude for February delivery fell 23

cents to settle at 48.58 dollars a barrel on the New York Mercantile Exchange

after rising as high as of 50.47 dollars.

In London, February Brent crude rose 1.58 dollars to

51.20 dollars a barrel on the ICE Futures exchange.