Crude oil prices settled sharply lower in futures market on Tuesday, on signs of rising production in key parts of the world.

Light sweet crude oil (WTI) futures plunged 0.92 dollar or 2.07 percent to close at USD 43.51 a barrel at the New York-based commodity exchange NYMEX.

Brent crude oil futures fell 0.89 dollar or 1.9 percent to close at USD 46.02 a barrel at NYMEX. WTI-Brent spread was stable on Jun-2017.

Natural gas futures remained flat at 2.930 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.419 a gallon at the NYMEX.

In refined products, RBOB heating oil futures remained flat at 1.402 a gallon at the NYMEX.