Oil drops 9%, stock futures surge after Iran says Strait of Hormuz is ‘completely open’ during ceasefire

Oil prices dropped sharply and stock futures surged Friday after the Iranian foreign minister said the Strait of Hormuz will be “completely open” for commercial transit during the remainder of the ceasefire. Brent crude, the global benchmark, fell 9%, to $90 per barrel. WTI, the US benchmark, sank...

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