India, July 28 -- Oil extended declines to hit their lowest levels in more than a week on Tuesday after U.S. President Donald Trump said the U.S. was having "good talks" with Iran, raising optimism over the prospects for a negotiated peace deal.
Brent crude futures fell nearly 3 percent to trade below $86 a barrel, marking a third consecutive session of losses.
WTI crude futures were down 2.3 percent at $80.69, after having tumbled more than 7 percent in the previous session as hopes of a diplomatic breakthrough between the United States and Iran helped ease concerns over supply disruptions to global energy supplies.
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