Major oil-importing nations are accelerating efforts to rebuild strategic petroleum reserves following a ceasefire agreement between the United States and Iran.
The diplomatic resolution has ended months of severe supply disruption that battered energy markets and forced buyers to ration consumption.
With shipping routes through the Strait of Hormuz stabilizing, governments and traders are moving quickly to secure physical barrels and restore buffer stocks that were drawn down during the conflict.
The repricing of geopolitical risk is evident across energy markets.
Brent crude has retreated from conflict-driven highs as the immediate threat of a prolonged supply cutoff recedes.
However, the path to normalization remains complex.
The International Energy Agency recently downgraded its global oil demand outlook, warning that the war inflicted severe damage on crude consumption patterns and that recovery will be uneven.