Published by Global Banking & Finance Review®
Posted on March 23, 2026
1 min readLast updated: March 23, 2026
Add as preferred source on GoogleOil prices plunged sharply—Brent dropped about 15% to around $96, WTI fell roughly 13.5% to $85.28—after President Trump announced a five‑day postponement of U.S. military strikes on Iran’s energy infrastructure amid ongoing negotiations.
LONDON, March 23 - Oil prices fell by over 13% 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% to a session low of $96 a barrel by 1108 GMT while U.S. West Texas Intermediate had fallen $13, or about 13.5%, to a session low of $85.28.
(Reporting by Seher Dareen in London; Editing by Toby Chopra)
Oil prices dropped after President Trump said the U.S. would postpone planned military strikes on Iran's energy infrastructure.
Brent crude futures fell around $17, or 15%, to a session low of $96 a barrel.
U.S. West Texas Intermediate hit a session low of $85.28, falling about 13.5%.
The report was written by Seher Dareen in London and edited by Toby Chopra.
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