Amman, March 23 (Petra) – Oil prices fell sharply on Monday after US President Donald Trump announced a postponement of planned US strikes on Iranian energy facilities.

Brent crude futures dropped 13.7% to $96.72 a barrel, after hitting their highest level since July 2022 on Friday, according to CNBC.

US West Texas Intermediate (WTI) crude futures for the same month also declined, falling 10.57% to $87.85 a barrel in afternoon trading.

The drop followed Trump's announcement that he had ordered a five-day delay of all planned strikes on Iranian power plants and energy infrastructure.

//Petra// AK