New Delhi, June 16 -- Global crude oil prices continued to trade near three-month lows on Tuesday following the announcement of a peace agreement framework between the US and Iran, easing concerns over supply disruptions from West Asia.

Around 8:30 am, the August contract of Brent crude on the Intercontinental Exchange was trading at $83.10 per barrel, down 0.08%, while the July contract of West Texas Intermediate (WTI) on NYMEX stood at $80.74 per barrel, lower by 0.01% from its previous close.

Oil prices, however, recovered marginally from the lows touched in the previous session as traders awaited details of the agreement and a timeline for the full reopening of the Strait of Hormuz. On Monday, Brent had fallen 5% to $82.56 per barre...