Crude prices slightly lower in New York

Crude oil prices fell below $100 per barrel in New York for a time on Tuesday on gains in the dollar, but headed back over the $100 level after large investors’ automatic-buy orders were triggered by the price decline.

West Texas Intermediate crude for May delivery was down 60 cents to $100.98 per barrel near the close of floor trade on the New York Mercantile Exchange, while a bit earlier Brent crude was up 49 cents to $100.79 on the ICE Futures Europe exchange in London.

Analysts are not in agreement about where prices will go as some see declines based on dropping demand and increasing inventories in the United States, while others point to demand from emerging economies to support the assertion that prices have nowhere to go but up.

Nymex May gasoline was up 1 cent to $2.64 per gallon while May heating oil had dropped 3 cents to $2.88 per gallon and May natural gas had dropped 42 cents to $9.68 per million British thermal units.