India, March 24 -- As the conflict between the US and Iran continues to keep oil prices and energy supply at brink, an announcement from US President Donald Trump took us by surprise on Monday. The Republican leader, who announced this war to end the "terror regime" in Iran, said that he held "productive talks" with Tehran to end hostilities.

The US president went on to say he has ordered a pause on strikes on Iranian energy sites and power plants for the next five days, effectively backing down from his threat to launch attacks on Iran's energy infrastructure.

Shortly after Trump's announcement, oil prices plunged by 13 per cent, reported Bloomberg. The price of Brent crude sank to $96 per barrel, and European and American shares rose....