President Donald Trump has indicated that peace with Iran is imminent, potentially leading to the reopening of the Strait of Hormuz, a vital conduit for global oil transport. However, the reality of this situation is fraught with logistical challenges and geopolitical uncertainties. Currently, approximately 166 tankers carrying 170 million barrels of oil are stuck in the Persian Gulf, and analysts warn that clearing these bottlenecks could take up to three months. Once the strait reopens, oil production in the Middle East, which has been largely shut down during the conflict, will require a complex and gradual restart process that could last several weeks. Furthermore, damage to critical infrastructure during the war means that repairs could take years, affecting the overall oil output of the region. Despite optimistic forecasts, oil prices remain high, with Brent crude trading at just over $100 per barrel. Analysts from JPMorgan expect prices to average $97 for the rest of the year, but a return to pre-war prices may not occur until 2032. The situation remains precarious, with Iran expressing doubts about the terms of passage through the strait, complicating the outlook for global oil markets.