Oil prices fell below $75 a barrel today aided by a drop in Asian equities.

For August delivery, US crude fell 64¢ to stand at $74.31 a barrel by 07.02 GMT, while London Brent crude declined 68¢ to $73.69, according to Reuters.

Crude stockpiles are expected to fall by two million barrels, distillates to climb by 700,000 barrels and petrol to rise by 300,000 barrels, a Reuters poll showed.