Oil prices have seen significant fluctuations following the announcement of a two-week ceasefire between the U.S. and Iran. After reports emerged of a ceasefire, oil prices plunged, with physical prices nearing record highs before rapidly dropping below $100 per barrel. The stock market reacted positively, with Dow futures surging by as much as 900 points, while concerns over gas prices persist despite the reopening of the Strait of Hormuz. The uncertainty in the market remains high amidst ongoing tensions, with analysts noting that the ceasefire may not lead to immediate relief for consumers at the pump.