The U.S. crude settle — which was delayed by about 50 minutes due to volatility — came in at $30.44 a barrel, according to the New York Mercantile Exchange.
Earlier, CNBC reported the settlement was a few cents lower, citing an industry source.
Crude oil prices lost more than 4 percent, extending a relentless selloff to trade below $30 a barrel for the first time since December 2003 on concerns about fragile Chinese demand and the absence of restraint in global production.
WTI in 2016
Shaking off early firmness, crude extended a nearly 7 percent drop from Monday. Losses for the year of almost 17 percent have been driven by too much supply, the weakening economy of No. 2 consumer China, sliding stock markets, and a strong dollar, which makes it more expensive for those using other currencies to buy oil.
Analysts at Barclays, Macquarie, Bank of America Merrill Lynch, Standard Chartered and Societe Generale all cut their 2016 oil forecasts this week, with Standard Chartered saying oil could fall as low as $10 per barrel.
U.S. crude West Texas Intermediate (WTI) fell as low as $29.93, the weakest price since December 2003.
WTI in last 12 months
International benchmark Brent crude recovered to $30.96 per barrel, down 59 cents, after falling to a low of $30.40, a level last seen in April 2004.