Oil slips further as Iran nuclear talks set to resume

U.S. West Texas Intermediate crude slid for a third day to $79.98 a barrel.

SINGAPORE: Oil prices extended declines on Thursday, pushing U.S. futures below $80 a barrel, after Iran and world powers agreed to resume nuclear talks this month that could lead to the removal of U.S. sanctions on Iranian oil, increasing global supplies.

U.S. West Texas Intermediate crude slid for a third day to $79.98 a barrel by 0326 GMT, down 88 cents, or 1.1%. Brent crude futures for January fell for a second session to $81.33 a barrel, down 66 cents, or 0.8%.