The US President Donald Trump has announced to start an effort to free ships stranded in the Strait of Hormuz as a humanitarian gesture to aid neutral countries.

In a social media post on Truth Social, he said the United States would aid ships and their crews that have been "locked up" in the strait and are running low on food and other supplies.

Donald Trump said we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business.

Oil prices eased after U.S. President Donald Trump said that his country will begin an effort to free up ships stranded in the Strait of Hormuz.

Brent crude futures fell 0.59 percent to 107.53 dollars a barrel.

Meanwhile, Iran says it has received a US response to its latest peace proposal.

Iran's foreign ministry spokesperson said the response is now being reviewed.

According to Tasnim news agency, spokesman Esmaeil Baghaei said at this stage, we do not have nuclear negotiations" - a key demand by Washington.