Oil inches down as investors focus on Hormuz flows after peace talks

Oil prices inched down on Tuesday, extending losses from the previous session, as investors looked for clearer signs of progress in restoring crude flows through the Strait of Hormuz following US-Iran peace talks. Brent crude futures fell 20 cents, or 0.3%, to $77.70 a barrel and US West Texas Intermediate declined to $73.74 a barrel, down 12 cents, or 0.2%, as of 0323 GMT. Prices fell more than 3% on Monday after the United States granted Iran a 60-day sanctions waiver following initial peace talks, and as officials reported a lull in hostilities in Lebanon under the broader agreement.