Oil markets may be celebrating the U.S.-Iran peace deal too early, as reopening the Strait of Hormuz will not immediately restore tanker traffic, production, refining activity, or insurance coverage.

Experts warn oil and fuel prices may remain high as restoring production, shipping and confidence after Strait of Hormuz disruption could take months.

A deal between the U.S. and Iran will reopen the vital Strait of Hormuz, easing global energy supply concerns. However, unresolved disputes mean future flare-ups are possible.…