July 28 : Oil prices extended losses on Tuesday, hitting their lowest levels in more than a week as hopes for a resolution to the U.S.-Iran conflict grew and traders continued to assess developments in the Middle East.Brent crude futures were down $2.53, or 2.86 per cent, at $85.83 by 0934 GMT. U.S. West Texa

Brent fell about 6 per cent toward US$91 a barrel, while West Texas Intermediate was below US$84. Read more at straitstimes.com. Read more at straitstimes.com.

Brent crude futures dropped $4.89, or 5.05%, to $91.89, after briefly falling below the key $90 support level earlier in the session. US West Texas Intermediate crude stood at…