Oil prices plummeted after Trump announced halt to strikes on Iran's energy sector

Oil prices fell sharply following US President Donald Trump's announcement of a five-day halt to strikes on Iranian energy infrastructure.

Brent futures for May delivery dropped $15 in London trading, falling below $100 per barrel.

WTI crude declined $11 per barrel, with May futures currently trading at $86.

Brent crude had risen nearly 9% over the past week.

Earlier today, Trump announced a temporary suspension of strikes on Iranian energy infrastructure after talks with Tehran aimed at ending the conflict.