Oil Price Today (July 28): Crude oil dips 10% in two sessions as US, Iran mull peace talks. What are experts saying?

Brent crude futures were down $0.78, or 1%, at $88 a barrel, while US West Texas Intermediate crude fell $0.88, or 1.1%, to $82. Both benchmarks had dropped 1% earlier in the session, touching their lowest levels in more than a week.