Oil prices fall after Trump postpones strikes on Iranian power plants

 Oil prices fell on Monday, after US President Donald Trump said the United States and Iran had held "productive" talks over the past two days and that he would stop strikes on Iran's power plants.

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

Oil prices hit a new high as trading opened earlier on Monday, with the price of U.S. benchmark West Texas Intermediate crude jumping 1.78 percent to $100.10 a barrel.