Oil falls over 13% on Trump postponing military strikes on Iran energy infrastructure
The tanker RARITY sits at anchor as lightning flashes in the distance, amid the U.S.-Israeli conflict with Iran, off Sultan Qaboos Port in Muscat, Oman, March 21, 2026. REUTERS/Stelios Misinas
LONDON, March 23 - Oil prices fell by over 13 per cent on Monday after U.S. President Donald Trump said he would order the military to postpone any strikes against Iranian power plants and energy infrastructure.
Brent crude futures had fallen around $17, or 15 per cent to a session low of $96 a barrel by 1108 GMT while U.S. West Texas Intermediate had fallen $13, or about 13.5 per cent, to a session low of $85.28.
Source: Reuters
