Crude prices inched up on Monday as the dollar weakened amid the Federal Reserve Chairman Ben Bernanke's bearish comments on U.S. economy.

Bernanke spoke to the National Association for Business Economics that U.S. economic growth was enough to cut unemployment rate. He said an easing monetary policy would support demand and drive down long-term unemployment. His comments made the markets believe that current record low interest rate would continue for a period and more quantitative easing could be adopted, which drove down the dollar.

More expectation of monetary easing boosted the sentiment and drove the dollar index down 0.44 percent to 78.96, which made the dollar-denominated crude oil more attractive.

Hopes for resolving a dispute over oil issue between South Sudan and Sudan limited the gains. After the settlement, about 350, 000 barrels per day of oil production would come back to markets.

Light, sweet crude for May delivery gained 16 cents, or 0.15 percent to settle at 107.03 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for May delivery also edged up 52 cents, or 0.42 percent to close at 125.65 dollars a barrel.