Oil prices tumbled in early Asia trade after US President Donald Trump announced fresh talks with Iran to end the Middle East war and reopen the Strait of Hormuz, AFP reports.
At around 2250 GMT on Sunday, the price of a barrel of Brent North Sea, the benchmark international oil contract, for September delivery was down 4.69 percent at $83.81.
Its American equivalent, West Texas Intermediate, fell 4.67 per cent to $80.72.
