A framework agreement between the U.S. and Iran regarding a potential end to conflict and the reopening of the Strait of Hormuz has triggered a significant drop in oil prices, fueled by expectations of restored oil flows. Industry officials caution, however, that a full recovery of oil production and refining operations to pre-conflict levels will be a protracted process. Estimates range from several weeks to months, and potentially even years, to fully normalize output. The timeline depends on repairing damaged infrastructure and resuming disrupted operations. While the agreement offers hope for increased supply, immediate substantial gains are unlikely. Market analysts are closely monitoring developments for concrete steps towards implementation and a clearer picture of the recovery schedule. The situation remains fluid and subject to geopolitical factors.