LONDON: Oil prices plunged by about 9% on Friday, extending previous losses, after Iran's foreign minister said that the passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period, in line with that in Lebanon.

Brent crude futures dropped by $8.46, or 8.5%, to $90.93 a barrel at 1300 GMT. U.S. West Texas Intermediate crude futures fell $8.87, or 9.4%, to $85.82 a barrel. - Reuters