There will be a long back and forth where both sides claim things for another week or 2, then there will be a "30 day peace period" which will actually be nothing.
During this time, Iran and the USA will both backtrack on their words and re-escalate. The net result will be higher inflation for the year, due to structural changes in energy movement across the globe as people increasingly stop trusting the strait and pass costs off on the consumer.
Late summer dump comes as fed starts talking up rate hikes.