The U.S.-Iran deal may silence the guns, but it cannot alter the verdict of more than three months of war.

The region has emerged from one of its most dangerous crises in decades with the balance of power broadly unchanged, Iran politically emboldened, and Persian Gulf confidence in U.S. protection deeply shaken, Gulf sources, diplomats and analysts say.

Iran remains a formidable and undefeated force capable of threatening Gulf Arab states and global energy flows, they say, while the United States has again revealed the limits of military power against a resilient adversary.