Investing.com -- Shares of major U.S. airlines are trading sharply higher on Monday as crude oil prices fell following President Donald Trump's announcement that he is pushing back strikes on Iranian energy sites by an additional five days.

American Airlines is up 4.3% in pre-market trading, United Airlines up 3.9%, Delta Airlines up 3.6%, JetBlue up 3.2%, Southwest Airlines up 3.8%, and Frontier Airlines up 3.8% shortly before 8AM on Monday.

Trump posted on Truth Social early Monday that he instructed the Department of War to delay strikes after conversations between the United States and Iran over the past two days.

"I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," Trump wrote. "Based on the tenor and tone of these in depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of War 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 and discussions."

Crude oil prices dropped from above $98 to under $85 within minutes of Trump's announcement but have since recovered some ground and are now trading above $92, roughly 6.6% lower.

On Saturday, Trump threatened to target Iran's power plants if the country did not fully reopen the Strait of Hormuz within 48 hours. The warning came a day after he discussed winding down the war, which is now in its fourth week.