Global oil prices fell sharply on Monday after U.S. President Donald Trump announced a five‑day delay in planned strikes on Iran’s energy infrastructure, easing immediate fears of further disruption to crude supplies.
Brent crude — the global benchmark — plunged nearly 10–15 % in early trading, sliding below the $100 per barrel mark for the first time in days, while U.S. West Texas Intermediate (WTI) futures declined roughly 10 %, with both contracts reacting to reduced near‑term geopolitical risk.
Markets responded positively to Trump’s statement that talks with Tehran had been “very good and productive” and that the halt to airstrikes was intended to give diplomacy a chance to progress. With the immediate threat to oil infrastructure eased, traders reduced risk premiums that had earlier driven prices sharply higher amid concerns over supply disruptions in the Gulf.
