Trajectory (stable): Strait of Hormuz shipping disruption traps approximately 1,500-2,000 vessels; reopening timeline uncertain, but peace talks progress provides relief expectations.; Outlook for reopening the Strait of Hormuz remains unclear; large backlog of vessels awaits clearance. (NYT) Key events: Approximately 1,500-2,000 vessels trapped in the Persian Gulf - NYT; Reopening timeline depends on US-Iran agreement progress - NYT Watch: Restoring strait navigation requires clearing mines and coordinating transit plans; normal operations expected to take at least 1-2 months. Short-term energy transport bottlenecks are hard to resolve, keeping tanker freight rates high.