Follow our live coverage here.Singapore – A liquefied natural gas (LNG) tanker that has been trapped in the Persian Gulf for over three months appears to be heading toward the Strait of Hormuz, just as the US and Iran say they have reached a deal to reopen the key waterway.Shipowners are working through the news and trying to understand the details of the agreement - which may not be available for days - meaning there is little observed traffic in and around the corridor in the early hours of June 15.The Disha, though, is testing the waters. The LNG carrier, under a long-term charter with an Indian state-owned importer, is north of the United Arab Emirates and is nearing Oman, according to ship-tracking data compiled by Bloomberg. The tanker picked up a shipment from Qatar’s Ras Laffan facility around March 1, according to the data.European natural gas prices fell as much as 5.8 per cent in early Asian trading on June 15. Resuming LNG traffic through Hormuz would help ease a supply crunch that had kept gas prices in Europe and Asia elevated since March. Oil prices also slumped on June 15, with Brent crude down more than 4 per cent.Hormuz - the transit route for roughly a fifth of the world’s oil and liquefied natural gas supply, along with vital products, such as aluminium and urea - has been effectively closed since the start of the war at the end of February. According to President Donald Trump, the strait will now reopen when an agreement is signed on June 19.Japanese shippers on June 15 said they are awaiting more details of the deal and clearance of mines before allowing their ships to pass the chokepoint.According to the Japanese Shipowners’ Association, 38 Japanese-linked vessels remain stranded in the strait.A spokesperson for the association said that while the group welcomed the peace agreement, it wanted to “wait a little longer for more concrete information”, which he expected by June 19, when the US-Iran pact is scheduled to be signed in Switzerland.There had been news reports that mines had been laid in the area, the spokesperson said, adding: “Given the situation, we cannot simply say, ‘Right then, let’s go’ based on news of the agreement alone.”Nippon Yusen, the country’s biggest shipper, said it hoped operations would return to normal as soon as possible, but a spokesperson added it was too early to comment on the schedules of Japan-linked vessels stranded in the Gulf.He declined to say how many of the company’s ships remain in the Gulf.A deal that unblocks the strategic corridor and to end two competing blockades is welcome news for importers and for the wider market - but it will face multiple hurdles in practice, given the leverage provided to Tehran by its grip on the strait.Clusters of vessels on either side of the strait will come into focus as a result, as traders and shipowners monitor groups at anchor off Dubai and in the Gulf of Oman, all of which can quickly decide to make the crossing and begin to move.One catch is that spoofing and other tactics, including a sharp increase in crossings with transponders switched off, can make it difficult to monitor the situation in real time. Even among the visible flotillas, some ships have not signalled their location for days or weeks. BLOOMBERG, REUTERS