Global stock markets are experiencing significant gains following the announcement of a tentative peace deal between the U.S. and Iran, with the Dow climbing over 450 points to reach a record high. The Nasdaq also saw a notable increase, surging by nearly 800 points. Concurrently, oil prices have dropped sharply, reaching their lowest levels since early March, as the agreement raises hopes for an increase in oil supply. Despite the optimistic outlook, experts caution that it may take weeks or even months for oil production to return to normal levels. Analysts predict that while there may be some relief at the gas pump, prewar prices are unlikely to be restored overnight. The implications of the deal extend beyond energy, prompting discussions about its potential impact on inflation and the broader economy.