By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- Crude-oil futures briefly turned lower Wednesday after a midmorning report showed new home sales plunged 11.2% in January to a record low. At the same time, Federal Reserve Chairman Ben Bernanke released testimony saying interest rates are likely to remain low for an extended period. Oil for April delivery traded at $78.85 a barrel versus $78.86 in the prior session and $79.31 ahead of the midmorning reports. Gold for April delivery fell $2 to $1,101.2 an ounce, in line with its level ahead of the reports.
