While oil prices are projected to decrease if a peace agreement is reached between the U.S. and Iran, the descent likely won’t be as rapid as many anticipate.

Forecasts as of May 27, 2026 point to a meaningful but gradual fall in crude prices once the Strait of Hormuz reopens. Brent and WTI are expected to move back toward the $70–90 range over the following quarters, rather than returning to pre-war levels immediately.

For materials prices, that implies several possible timelines for costs to return to pre-conflict levels.