Police surrounded a branch of Crédit Agricole in the southern Italian city shortly after the robbery began around midday local time (10:00 GMT).

Local outlets reported that they negotiated with the robbers before the hostages could be released, about two hours into the robbery.

Firemen could be seen smashing in a window with battering rams and helping people climb out from inside in videos shared on social media.

Some hostages simply shook off the shards of glass and walked on.

But others looked visibly shaken, crying and hugging their relatives. Six people, who were in a state of shock, were offered medical assistance.

One man later told local news site Fanpage.it that the robbers had locked them into a room and that, while they were armed, “they did not use violence”.

Nobody was seriously injured. “Thanks to the swift response… all the hostages were freed shortly after 13:30 without serious injuries,” regional official Michele di Bari said in a statement.

A large crowd of bystanders, local residents and firefighters gathered in the square waiting for developments, while ten of thousands of people tuned into a livestream from the scene of the crime.

Oil prices have plummeted after Iran said the Strait of Hormuz would be “completely open” to commercial ships for the remainder of the ceasefire.

The cost of a barrel of Brent crude fell to $88 dollars a barrel, having been above $98 earlier on Friday.

The Strait of Hormuz is a narrow strip of water linking the Gulf to the Arabian sea, through which a fifth of the world’s oil and liquified natural gas is typically transported.

“The passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,” Iranian Foreign Minister Abbas Araghchi said.