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