Oil prices flat as Trump’s plan for Strait of Hormuz fails to calm market

Oil prices remain largely unchanged following the United States' announcement to guide stranded vessels out of the Strait of Hormuz. Traders see little hope of resolving the energy disruption, with Brent crude futures standing at $108.25, up by 0.08 percent. Senior Iranian officials have signalled that Tehran will not cooperate with the US plan, casting uncertainty over the fragile ceasefire in place. The UK's military reports a tanker being struck by unknown projectiles off the UAE coast, but neither crew was harmed.