New Delhi, March 23 -- Crude oil prices, which had surged relentlessly since the start of the US-Iran war, plunged sharply in Monday evening's session, with both Brent and WTI crashing over 14% from the previous day's close. Concerns about oil supply disruptions eased after US President Donald Trump said on 23 March that the US and Iran had held productive talks over the past two days.

Trump also said he was halting any strikes on Iranian power plants and energy infrastructure for five days.

"I am pleased to report that the United States of America and the country of Iran have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," President Tr...