Crude prices extend decline, fall over 5% on US-Iran talks optimism; Brent down 20% in three sessions

Crude oil prices fell over 5% on Tuesday, driven by hopes of a US-Iran diplomatic breakthrough, easing supply disruption fears. Brent crude dropped to $80.67 and WTI to $77.83, continuing a downward trend after recent military de-escalation and renewed diplomatic efforts in the region.