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Crude oil futures for March fell by Rs 34 or 0.65%, to Rs 5,028 per barrel in 6,690 lots.
At the Multi Commodity Exchange (MCX), the April contract moved down by Rs 31, or 0.61%, to Rs 5,079 per barrel in 1,523 lots.
Prices were affected as speculators trimmed positions.
The trading sentiment turned weak globally after unprecedented levy on bank deposits in Cyprus threatened to plunge Europe back into crisis.
US survey showing a dip in consumer confidence aslo curbed the demand.
On the New York Mercantile Exchange (NYMEX), the April contract shed $1.18 to $92.27 a barrel.
