Oil Prices Extend Losses as U.S.-Iran Calm Holds for Another Night

AI Summary

Oil prices declined as calm persisted between the U.S. and Iran, with WTI and Brent crude falling nearly 2%. Diplomatic talks and hopes for resolution are influencing the market amid steady geopolitical tensions.

Oil prices continued to trend lower in early Asian trade on Tuesday as a fourth night passed without any attacks from either Iran or the United States. At the time of writing, WTI crude was trading at $80.98 per barrel, down 1.97% on the session, while Brent crude had slipped to $86.80 per barrel, a decline of 1.77%. On Monday, President Trump sought to boost hopes of a diplomatic resolution between Washington and Tehran by claiming that the U.S. was engaged in "good talks" with Iran. Iranian officials echoed that sentiment, although both parties…