International oil prices are falling after the United States decided to postpone strikes on Iran's power plants.
As of 9 a.m. on the 23rd (U.S. Eastern time), June Brent crude futures were at $98.01, about 10% lower than the prior session's closing price of $106.41.
Global oil prices had surged after a notice of U.S. strikes on key Iranian facilities. However, with indications that the strikes could be postponed on this day, they appear to have shown a short-term decline.
President Trump said on his Truth Social on this day that "over the past two days, the United States and Iran have held talks to resolve hostilities in the Middle East," and that "I have instructed the Ministry of National Defense to postpone all military strikes on Iran's power plants and energy facilities for five days."
On the 21st, President Trump demanded that Iran open the Strait of Hormuz within 48 hours, warning that if it did not comply, he would strike power plants.
After President Trump's postponement remarks were made on this day, international oil prices plunged, but some of the losses were recovered after Iran said it had not held separate talks with the United States.
Iran's semi-official Mehr News Agency, citing a government source, criticized that "the U.S. president's recent remarks are nothing more than political rhetoric aimed at lowering soaring energy prices, and a deliberate effort to buy time to carry out his military plans."