NEW YORK -- Despite a Sunday agreement to conclude the Iran conflict and reopen the Strait of Hormuz, elevated oil and gasoline costs along with supply disruptions will not resolve quickly.

Energy specialists indicate that companies will require several months to restore operations sufficiently to satisfy global demand. The deliberate nature of crude oil transport and processing, combined with ongoing security concerns around the strait, will delay any noticeable impact.

Crude oil tankers have remained trapped in the Persian Gulf for over three months, blocked from safe passage through the key route that once carried roughly one-fifth of worldwide oil and gasoline volumes prior to the war.

"It will require time for confidence to build and for proper insurance coverage to return, especially to enable personnel to reach sites and restart facilities," noted Daniel Evans, global head of fuels and refining research at S&P Global Energy.

Oil prices nevertheless declined early Monday following the announcement.

Brent crude fell $3.45 to $83.89 per barrel. U.S. benchmark crude dropped $4.03 to $80.85 per barrel.

These levels remain significantly higher than the approximately $70 per barrel seen before the war began.

With prices easing, stranded vessels must first exit the strait before fresh tankers can enter for loading, Evans explained.

"Operators need assurance of a sufficient safety window to bring vessels in, complete loading and depart safely," he added.

Tankers travel at modest speeds, requiring months to reach distant markets, unload crude at refineries and complete final delivery.

Some Middle East producers halted extraction due to storage limits, and resuming such operations proceeds gradually.

Nations including Saudi Arabia and the United Arab Emirates, which possess alternative pipelines bypassing the strait, may resume output fastest, according to Alan Gelder, senior vice president of refining, chemicals and oil markets at Wood Mackenzie.

"However, locations such as Iraq face greater difficulties given larger production halts and more complex fields, potentially needing up to a year for recovery," he stated.

Energy sector investments, which often take years to yield results, ceased after the strait closed, Gelder observed, so restarting this funding will also take time.

Producers will hesitate to resume until they confirm a reliable, lasting opening of the strait and a ceasefire extending beyond 30 or 60 days, said Daniel Sternoff, senior fellow at the Center on Global Energy Policy at Columbia University.

"It remains unclear what reopening entails or how quickly trapped supplies can depart," he said.