Crude prices mixed as IMF chief warns on prices

Crude oil prices were mixed Monday after International Monetary Fund chief Dominique Strauss-Kahn said today that if crude oil prices stay where they are now for an extended period, global economic growth could be hurt.

The statement came as unrest continued in Libya as leader Muammar Qadaffi continued to refuse to quit despite increasing calls for his resignation, including from US Secretary of State Hillary Clinton and despite reported gains by anti-government protesters, who were said to have gained control of a city near the nation’s capital of Tripoli.

Meanwhile, anti-government demonstrations in the region spread to Oman over the weekend.

Despite ongoing turmoil in North Africa and the Middle East, crude prices fell slightly in New York for April contracts of West Texas Intermediate but were up slightly again for Brent crude in London trade.

In afternoon trade in New York, April WTI was down 17 cents to $97.71 per barrel on the New York Mercantile Exchange, while Brent crude was lately reported up 8 cents to $112.22 per barrel on the ICE Futures Europe exchange in London.

Nymex March gasoline futures, which expire at the end of floor trade today, were down a cent to $2.73 per gallon, while the also-expiring March heating oil futures dropped less than a cent to $2.93 per gallon.

On the other hand, Nymex April natural gas futures added 3 cents in afternoon trade to $4.03 per million British thermal units on forecasts for more colder than normal weather in the United States.

The retail price of gasoline was up again overnight in the United States, to $3.368 per gallon on average for regular unleaded.