Oil steadies as traders doubt Trump shipping corridor plan in Hormuz
Oil steadied as traders questioned the workability of a plan by President Donald Trump for the US to guide neutral ships out through the Strait of Hormuz, with a tanker reportedly hit in the waterway.
Brent was little changed above $108 a barrel, after falling as much as 2.4% at the open, while West Texas Intermediate was near $102. Starting from Monday, the US move was meant to enable vessels that have been stranded by the war with Iran to pass through the waterway, according to Trump.
