BusinessHindustan Times
Oil extends decline as Trump's US-Iran talks remark fuels hopes of end to West Asia conflict
in5points
Brent crude fell toward $87 a barrel after losing 8.7% on Monday, the most in more than three months.
President Donald Trump said the US and Iran were engaged in talks to end the Middle East conflict, with a 'good chance' of progress.
West Texas Intermediate was near $81 a barrel.
Observable tanker traffic through the Strait of Hormuz remained muted, with only four vessels crossing on Monday per Kpler data.
Iran and Oman are negotiating to restart shipping through the Strait of Hormuz, which previously carried a fifth of daily oil flows.
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