US oil prices fall in early trade, extending the previous session’s losses, on hopes the Strait of Hormuz could reopen after Iran said it had resumed talks with neighbour Oman on managing the strategic waterway, Reuters reports.
US West Texas Intermediate crude futures fall $1.37, or 1.7 per cent, to $80.99 as of 2240 GMT. The contract lost 3.1pc on Tuesday, settling at its lowest since August 13.
