Oil falls over 13% on Trump postponing military strikes on Iran energy infrastructure

ReutersMar 23, 2026 11:26 AM

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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 LCOc1 had fallen around $17, or 15% to a session low of $96 a barrel by 1108 GMT while U.S. West Texas Intermediate CLc1 had fallen $13, or about 13.5%, to a session low of $85.28.

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