September WTI Crude Oil futures declined for a third consecutive session, falling over 14% across the period and breaking below the $80 mark. Market sentiment shifted lower following reports that Washington and Tehran are progressing toward diplomatic discussions aimed at regional de-escalation, easing the supply risk premium that had previously built up. Meanwhile, OPEC offered no fresh policy signals ahead of its upcoming August 2 meeting, where an output adjustment is anticipated despite ongoing production constraints. Traders are also preparing for weekly U.S. inventory data from the API and EIA.