Oil prices and stock markets are showing signs of recovery amid renewed hopes that the conflict with Iran may soon conclude. Brent crude oil, the international benchmark, fell below $90 a barrel after previously surging to a six-year high. The primary concern has been the potential closure of the Strait of Hormuz, a vital shipping lane for global oil and natural gas deliveries. President Trump's statements indicating that US objectives are "complete" and that the conflict "could be over soon" have fueled this market shift. He warned against any actions by Iran that would threaten global oil supply, promising a severe response. The Strait of Hormuz normally handles about a fifth of global energy shipments, and its effective closure has raised fears of renewed energy-led inflation impacting everything from fuel costs to food production. For the UK and Europe, this has already translated into higher fuel prices, particularly for diesel. The G7 nations are reportedly considering releasing reserves to mitigate supply disruptions. Recent trading saw Brent at $92 a barrel, with the FTSE 100 expected to open higher. Analysts note that markets are anticipating a de-escalation, pricing in a scenario where tensions ease and supply disruptions are limited.