Oil plunges over 13% as Trump postpones strikes on Iran’s energy network

12:57 PM (Mecca time) Argaam

Oil prices fell more than 13% on Monday after US President Donald Trump said he would instruct the military to postpone any strikes on power plants and energy network in Iran.

 

Brent crude futures declined by about $17, or 15%, reaching an intraday low of $96 per barrel by 11:08 GMT.

 

West Texas Intermediate (WTI) crude fell approximately $13, or 13.5%, to an intraday low of $85.28 per barrel.

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