The announcement of a two-week ceasefire in the Iran war has led to a 10% drop in oil prices and a rally in stock markets, signaling temporary relief in financial markets. However, oil prices remain elevated, with Brent crude trading above $90 per barrel, compared to below $73 before the conflict began. The effective closure of the Strait of Hormuz, a critical waterway for global oil and gas supplies, has triggered significant economic damage, leading to higher energy prices for consumers. Despite hopes for peace, uncertainty lingers as conflicting messages emerge from Tehran and Washington, and Israel continues military actions in Lebanon. Economists forecast that oil prices will likely remain above pre-war levels through 2026, with the consultancy Capital Economics predicting a year-end price of $80 per barrel. The International Monetary Fund warns that wars typically leave lasting economic scars, which can hamper investment and economic growth for years. This situation highlights the fragility of the global economic outlook amid ongoing geopolitical tensions.