The market has its relief. Yours is on a delay.

Crude has had its relief. Brent fell to around $81 a barrel on Monday and slipped toward $80 on Tuesday, a three-month low, as the market priced in the reopening of the Strait of Hormuz and the return of Gulf exports. Reuters reported that the United States will let Iran resume selling oil immediately under the deal. For the oil market, the war is already in the past tense.

For the household it is not. The price you pay to fill a tank or heat a home tracks crude with a lag of weeks — through wholesale costs, refining margins and the quarterly energy cap — and only downward if the ceasefire holds. The Associated Press reported on Tuesday that economists expect higher costs for fuel, food and flights to outlast the war. The relief is immediate in the market and deferred at the till.

The Bank of England's rate-setters meet on Thursday, with the base rate at 3.75 per cent after April's eight-to-one vote to hold. A hold is widely expected again. The Bank has said its path depends on the size and duration of the energy shock; a deal that lowers oil removes one upward push on inflation, but the Bank will want to see it stick before it moves. For anyone on a tracker, or coming off a fix, Thursday is unlikely to change the number this week.

There is a quieter way the deal has already reached you, through money you may not think of as yours to watch: your pension. If your workplace scheme or ISA holds UK shares — and most do, through index and tracker funds — it almost certainly holds BP and Shell, two of the largest companies on the FTSE 100. Their share prices rose with the war's fear and have moved again with its ending. This is information, not advice: it is simply where a global energy story lands in a British saver's account, often without a single decision on their part.

The pattern is the one worth keeping. Markets reprice in a morning; households reprice over a year. The oil price is a headline; the standing order is a fact. Between the two sits the lag where ordinary money lives — the weeks before a cheaper barrel becomes a cheaper bill, if it ever fully does.

Watch three things, in order: whether the ceasefire holds past its 60 days, what the Bank signals on Thursday about the months ahead, and — last and slowest — whether the pump and the cap actually fall this autumn. The first is a question of diplomacy, the second of nerve, the third of arithmetic. Only the third shows up in your account.