Oil Price Falls After Trump Postpones Iran Strikes -- WSJ

Dow Jones03-23

By Ed Ballard

Oil futures fell after President Trump said he was postponing strikes on Iranian power plants for five days after what he described as productive talks with Iran.

Brent crude, the international benchmark, was recently 11% lower at below $100 a barrel. WTI crude, the U.S. benchmark, was 12% lower at roughly $87 a barrel.

"I HAVE INSTRUCTED THE DEPARTMENT OF WAR TO POSTPONE ANY AND ALL MILITARY STRIKES AGAINST IRANIAN POWER PLANTS AND ENERGY INFRASTRUCTURE FOR A FIVE DAY PERIOD," Trump said in a social-media post.

Oil had been climbing earlier in the session, with investors on edge after President Trump said the U.S. would strike Iranian infrastructure late Monday unless Iran opened the Strait of Hormuz.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 23, 2026 07:24 ET (11:24 GMT)

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