Crude oil futures fell 0.73 per cent to Rs 2,738 per barrel today as speculators reduced their exposure amid a weak trend in Asian trade.
On the Multi Commodity Exchange, crude oil for delivery in August shed Rs 20 or 0.73 per cent to Rs 2,738 per barrel in 2,159 lots.
Similarly, the oil for delivery in September also fell Rs 18 or 0.64 per cent to trade at Rs 2,811 per barrel in 185 lots.
Trading sentiment remained weak as crude oil prices looked set for their seventh weekly fall in Asia today, with US crude tumbling to a fresh six-year low as investors are worried a global supply glut is set to last, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for September delivery was down 17 cents at $42.06 after falling below $42 a barrel earlier in the session, the lowest since March 2009.
Brent crude for September delivery shed 2 cents to $49.20 a barrel on the New York Mercantile Exchange.