Oil Prices Fall 13 Percent as Trump Delays Iran Strikes
Oil prices fell over 13 percent today after President Trump postponed military strikes on Iranian energy sites. Brent crude hit a session low of 96 dollars.
Global energy markets experienced a sharp downturn on Monday as geopolitical tensions appeared to ease following a significant policy announcement from the United States. Crude prices plummeted by more than 13% after President Donald Trump indicated a shift in military strategy regarding Iran. The administration has reportedly decided to postpone planned strikes against the Islamic Republic's power plants and critical energy infrastructure, providing immediate relief to a market that had been bracing for significant supply disruptions.
Brent Crude Oil Futures witnessed a dramatic decline, falling approximately $17 per barrel. This 15% drop brought the international benchmark to a session low of $96.00 per barrel by 1108 GMT. Similarly, WTI Crude Oil Futures (West Texas Intermediate) fell by $13, or roughly 13.5%, reaching a low of $85.28 per barrel.
