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Crude oil futures were trading lower during early morning trade in the domestic market on Friday as investors and speculators continued to cut risky bets in the energy commodity amidst heightened fears over a worsening supply glut in the global oil market. US crude supplies climbed for the seventh week on the trot, up by 4.22 million barrels last week, the EIA said, adding that supplies of the fuel in the world's biggest oil consumer

Crude oil trading range for the day is 2072-2308.Crude oil prices recovered from lows after data showed that oil supplies in the U.S. rose less than feared last week.

Oil prices have fallen considerably over the past month, but the demand for the crude fuel isn't going away. Forecasts suggests that oil could regain double digits by month's end.

The decline of oil alongside the broader equity market has made for what appears to be an attractive buying opportunity. Unlike equities, the price of oil is driven by demand which can only drop off by a certain amount.

Oil prices closed in on $90 per barrel on the New York Mercantile Exchange after a three-day rally on Wall Street and a sharp decline in U.S. inventories.

Crude oil futures slided over 1 per-cent in the native market on Wednesday as investors & speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as an eighth straight rise in US crude oil stockpiles last week aggravated fears over a global supply glut.

Today, Crude oil futures plummeted over 1 per-cent in the native market while tumbling to a 6 year low in the overseas market as investors, observers and speculators regained to a heavy sell-off in the energy commodity amidst continued fears that a global oil glut may exacerbate due to the fallout of the OPEC's decision to maintain production at high levels, and sluggish world wide growth of economy which may weaken requirement.

Crude oil futures tanked around 4 per-cent in the native market on Friday last week as investors and speculators resorted to heavy selling after the OPEC, the cartel that accounts for around 40 per-cent of world wide crude supplies, refused to curb production to alleviate a supply glut.