Personal bold prediction, not guaranteed to happen:

1 Negotiation is about finding a point that causes pain to both sides but is acceptable to both. When both sides have strong bargaining chips, negotiations are impossible. Trump’s bargaining chips are now decreasing, approaching the midterm elections and the limit of U.S. debt yields, while Iran’s chips are also diminishing, nearing the limit of a fiscal default in August, so negotiations will soon reach an agreement. If it’s delayed until July or August, both sides will suffer greatly.
2 Before the Strait blockade, oil supply exceeded demand by millions of barrels daily. During the blockade, oil prices rose significantly. Although some oil wells reduced output, some diverted their flow, and others temporarily stored oil on ships. Once the blockade ends, I believe oil prices will drop sharply in the short term because there are hundreds of millions of barrels stored in the Gulf. As soon as there’s an opportunity to sell, owners won’t want to pay more for storage even for a second.
3 The market now expects interest rates to rise because inflation looks a bit ugly, and employment remains quite strong. But I suspect the White House will do a lot of tricks to suppress inflation, such as the recent UAE’s exit from OPEC, possibly to coordinate with the U.S. to dump oil prices in the coming months. They might also work with allies on financial interventions involving the yen and euro to ensure the economy continues on its growth path.
Although the current US stock market is rising somewhat unsustainably, a major correction is unlikely to happen next. Instead, the S&P will likely move sideways, with funds rotating into small-cap stocks. Trump will keep trying to generate positive news and manipulate expectations of rate cuts.