A newly announced deal between the United States and Iran is expected to end months of hostilities, reopen the Strait of Hormuz and ease pressure on global oil markets.

However, key disputes about Iran's nuclear program, missile capabilities and regional alliances remain unresolved, said Samer Shehata, a professor with the Center for Middle East Studies at the University of Oklahoma.

Both the US and Iranian governments are likely to claim victory. But uncertainty persists about the deal's long-term stability.