Crude oil futures fell Rs 11 to Rs 3,150 per barrel today as speculators cut down their bets amid weak cues from the Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in August was trading lower by Rs 11 or 0.35 per cent at Rs 3,150 per barrel in 1,718 lots.

On similar lines, crude for delivery in September fell Rs 9 or 0.28 per cent to Rs 3,172 per barrel in a business volume of 44 lots.

Analysts said the trading sentiment remained weak after oil prices fell in Asia due to profit-taking coupled with lingering concerns about oversupply.

Globally, West Texas Intermediate (WTI) crude oil was down 4 cents at $49 a barrel, while Brent too shed 4 cents to $51.45 a barrel on the New York Mercantile Exchange