Global crude oil prices tumbled over three per cent today. The decline comes after US President Donald Trump said that killings of demonstrators during protests in Iran were ending, tempering concerns over military action against Iran and potential supply disruptions.

Brent Crude was trading 3.4 per cent down at 64 US dollars and 26 cents per barrel, and WTI Crude was also trading 3.3 per cent down at 59 US dollars and 90 cents per barrel, when reports last came in.