Bangladesh, March 23 -- In a social media post that immediately sent oil prices tumbling, Trump said Washington and Tehran had held "productive conversations" over the last two days towards "a complete and total resolution" of hostilities in the Middle East.

Based on the talks, Trump said he had instructed the Pentagon to "postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings."

The previously unreported US-Iranian talks would "continue throughout the week," Trump said.

The bombshell announcement came ahead of a Monday night ultimatum for the Islamic republic to reopen the Strait of Hormuz shipping lane - or see Trump "obliterate...