Dhaka, June 24 -- Oil prices tumbled on Tuesday to their lowest level in more than a week as US President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area.

Brent crude futures fell $2.69 or 3.76 per cent to $68.79 a barrel as of 0006 GMT, after falling more than 4.0 per cent earlier in the session and touching its lowest level since June 11, according to Reuters.

US West Texas Intermediate crude slumped $2.7, or 3.94 per cent, to $65.46 per barrel, having hit its weakest level since June 9 earlier in the session and falling around 6.0 per cent.

Trump announced on Monday that Israel and Iran have fully agreed to a ceasefire, adding that Iran will begin the ceasefir...