Oil Prices Fall After Trump Delays Attack on Iran's Energy Facilities
US President Donald Trump recently held talks with Iran to end the war in the Middle East. Trump also ordered the US armed forces to delay attacks on Tehran’s energy facilities for the next five days. “I am pleased to report that the United States and Iran have had very good and productive conversations regarding a total resolution to our hostilities in the Middle East. I have ordered the Department of War to delay all attacks on Iranian energy infrastructure for five days,” Trump explained on Truth Social on Monday (23/3/2026). Citing CNBC, on Monday (23/3/2026), Brent crude oil fell 11% to $99.94 per barrel (approximately Rp 1,686,731, exchange rate Rp 16,941) after reaching $112 (Rp 1,889,328) per barrel on Friday (20/3/2026). In addition to Brent, West Texas Intermediate (WTI) oil prices also dropped 10% to $88.13 (Rp 1,489,532) per barrel. Oil prices are estimated to gradually decline if the situation in the Strait of Hormuz remains conducive over the next five days. However, the Iranian government has denied Trump’s statement regarding talks to end the war. “There are no talks between Tehran and Washington,” said the Mehr news agency on Monday (23/6/2026). Moreover, Iran remains uncertain whether the US delay in attacking its energy facilities is merely rhetoric to seize control of the Strait of Hormuz. Even if an attack occurs, Iran’s 90 million population is at risk of losing electricity supply in their homes. The fears of its citizens were addressed by Iranian President Masoud Pezeshkian. Through his son, Yousef Pezeshkian, he conveyed that he would retaliate against any US attack on his country. “When America attacks infrastructure, the consequences of this will come back to you. You cannot say: ‘I will cut off your electricity, but you must not cut off mine.’ Whatever we do will sooner or later come back to haunt us,” he explained, quoted from The Guardian. Currently, global oil prices tend to fall, but if escalation increases again, they could surge sharply.