Crude oil prices drop over 5% after US delay potential Iran strikes

                    
Global crude oil prices fell today, after US President Donald Trump instructed the Department of Defence to postpone all military strikes against Iranian power plants and energy infrastructure for five days.
 
Brent crude was trading 5.2 per cent lower at 106 US dollars and 31 cents per barrel, while West Texas Intermediate crude was trading 5.6 per cent down at 92 US dollars and 76 cents per barrel, when reports last came in.