Oil just settled at its lowest level in a month

Oil futures on Thursday settled at their lowest level in nearly a month, with strength in the U.S. dollar adding insult to injury to a market that is already suffering from record-high crude supplies in the U.S.

April crude CLJ5, +1.91%  dropped $2.82, or 5.5%, to settle at $48.17 a barrel on the New York Mercantile Exchange. That was the lowest close for a most-active contract since late January.