Reports indicate oil deliveries through the Hormuz Strait are nearing pre-conflict levels seen before February, but this isn’t necessarily positive news for the energy market. The oil being delivered is reportedly not the desired product, adding to existing concerns. Despite the increased flow, inventories continue to build, indicating underlying issues with demand or processing. Furthermore, ongoing attacks are actively complicating the situation, potentially threatening future supply. This complex scenario is contributing to sustained high prices despite the apparent improvement in transit volume through the Hormuz Strait. The situation remains precarious for global energy markets, as the quality of the oil and security of the Hormuz Strait are key factors. This instability highlights the fragility of oil supply routes.