WTI extends losses as Trump says US, Iran are negotiating
Oil prices extended losses after U.S. President Donald Trump said the United States and Iran were in talks to end conflicts in the Middle East. WTI fell below $82 a barrel, down more than 7% on Monday. Brent settled near $88 a barrel on Monday, its biggest one-day drop in more than three months. U.S. President Donald Trump told Axios that his decision to suspend strikes against Iran was to give negotiations another chance. However, it is still unclear whether the two sides have conducted any substantive negotiations. At 6:01 a.m. Singapore time on Tuesday, WTI for September delivery fell 0.8% to $81.94 a barrel; Brent for September delivery fell 8.7% on Monday to settle at $88.36 a barrel.