Drivers are enjoying some relief at the pump after the United States and Iran signed an agreement to reopen the Strait of Hormuz.

© Vincent Alban/The New York Times

The pace of the recovery will depend on how confident companies are that the deal between the United States and Iran will hold and be extended.

© Reuters

Some analysts said the main international oil price, which was up 6 percent on Monday, could climb much higher in the coming weeks if the Strait of Hormuz doesn’t reopen.

© Damian Dovarganes/Associated Press