Oil prices extend losses on expectations talks to ease Middle East supply woes

Qatar's prime minister will head to Iran on Thursday to relaunch diplomatic talks to end the conflict which is nearly six months old.

The U.S. has halted its attacks on Iran for about a month and is seeking to impose greater economic pressure on Iran, which has raised investors' expectations for an easing of the Gulf supply disruptions.

Still, the countries are far apart on their demands to end the fighting and Iran has struck shipping in the Gulf and strait to impose its control on the waterway.

Iranian officials have also said the strait would not open unless the U.S. met Tehran's conditions under an interim ceasefire agreement that was struck in June and later unraveled.