Oil Extends Drop to $95 After Iranian Media Report on Draft Deal

• US declares memo as ‘fabrication’

•Trump says no one will control Strait of Hormuz

Emmanuel Addeh in Abuja

Oil extended losses yesterday, falling over 5 per cent after Iranian state TV said it had seen a draft of an initial, unofficial framework for an agreement with the United States on ending their conflict and reopening the Strait of Hormuz.