Prices of crude oil in Asia slipped on Monday as US Federal Reserve boss Ben Bernanke’s recent speech at a central bankers' summit in Jackson Hole, Wyoming, disappointed traders.

Speaking at the Jackson Hole summit, on Friday, Bernanke admitted that the economic situation of the United States was far from satisfactory and said that the central bank would provide additional policy accommodation as required, but he declined to make any confirmation about further quantitative easing.

New York's main contract, light sweet crude oil for delivery in October, slipped by 7 cents to $96.40 per barrel in the afternoon on Monday, while Brent North Sea crude for October shed 15 cents to $114.42 per barrel.

The decline in the prices of crude oil in Asia was attributed to Bernanke’s recent speech.

Commenting on the situation, IG Markets said in its report, "Bernanke disappointed with no confirmation of QE3 or details about its timing."

Asia-Pacific shares’ MSCI broadest index outside Japan slipped to a fresh four-week low on Monday, though it later recovered slightly on global stimulus hopes. Japan's Nikkei stock average also touched its lowest in four weeks on Monday.

The growth-sensitive dollar of Australia slipped to a new six-week low of $1.0224 against the U. S. dollar and remained near a nine-week low against the Euro, as investors remained concerned about economic slowdowns in Australia and its biggest exports market – China.