New Delhi, March 23 -- Oil prices plunged by over 13 per cent after US President Donald Trump announced that he had instructed the Department of War to postpone strikes against Iranian power plants and energy infrastructure for five days, stating that conversations continue for "total resolution of our hostilities" in West Asia.

Brent crude futures had fallen around USD 17, or 15 per cent, to a session low of USD 96 a barrel by 1108 GMT while US West Texas Intermediate (WTI) had fallen USD 13, or about 13.5 per cent, to a session low of USD 85.28, Al Jazeera reported. The report said oil prices fell by over 13 per cent.

In a significant announcement, US President Donald Trump on Monday said he has instructed the Department of War to pos...