Crude oil contracts fell around $5/bbl around midday Tuesday, continuing their recent sharp declines, after the Wall Street Journal reported the U.S. will allow Iran to immediately begin selling oil and fuel under the deal to end the war.

At 0045 GMT, US benchmark West Texas Intermediate was down 4.70 percent at $80.89 a barrel and North Sea Brent Crude sunk 4.03 percent to 83.81 percent. | World News

Brent crude futures falls $4.08 to $83.25 a barrel and US West Texas Intermediate falls $4.35 to $80.53.