Oil prices fell more than 13% after US President Donald Trump said he would postpone strikes on Iran's energy infrastructure, Reuters reported on Monday, March 23.
"Brent futures fell about USD 17, or 15%, to a session low of USD 96 a barrel by 1108 GMT, while U.S. West Texas Intermediate fell USD 13, or about 13.5%, to a session low of USD 85.28," the report said.
Even with these declines, oil prices remain more than a third higher than they were before the US and Israel attacked Iran on February 28, CNN writes.
As Ukrainian News Agency earlier reported, on March 23, US President Donald Trump announced that he had ordered a 5-day delay in strikes on Iranian power plants and energy infrastructure.
Recall, on March 22, Donald Trump said that he was giving Iran 48 hours to unblock the Strait of Hormuz or he would order the destruction of the country's entire energy infrastructure. In response, the speaker of the Iranian parliament, Mohammad-Bagher Ghalibaf, announced that critical infrastructure and energy facilities in the Middle East could be "irreversibly destroyed" in the event of an attack on Iranian power plants.
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