Mubasher: Oil futures fell at Tuesday’s finish, recording lowest level since 5 July, on reports about potential talks between US and Iran.

August Nymex WTI declined by $1.96, or 3.3%, to close at $57.62 per barrel.

US Secretary of State Mike Pompeo said that Iran has told the US that it is ready to engage in negotiations with Washington over the Islamic Republic’s missile programme, according to the Washington Times.