New Delhi, June 24 -- Global crude oil prices fell over 2% on Tuesday morning as US president Donald Trump announced a complete ceasefire in the ongoing Iran-Israel conflict.

Around 8:25 am, the August contract of Brent was trading at $69.98 on the Intercontinental Exchange, higher by 2.14% from its previous close. Similarly, the August contract of West Texas Intermediate on the NYMEX fell 2.25% to $67.06 a barrel.

Also read: Israel and Iran agree on ceasefire to end 12-day war, Trump says

Taking to social media platform Truth Social, Trump said, "CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran...