JP Stock MarketDetailed Quotes

Sumitomo Osaka Cement (5232)

Watchlist

4057.0
-81.0-1.96%

20min DelayMarket Closed Apr 17 15:30 JST

130.10BMarket Cap15.01P/E (Static)

Earnings

Revenue Breakdown

Financial Indicators

Income Statement

Balance Sheet

Cash Flow

Sumitomo Osaka Cement (5232) Balance Sheet

Quarterly+Annual

YOY

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(Q3)Dec 31, 2025

(Q2)Sep 30, 2025

(Q1)Jun 30, 2025

(FY)Mar 31, 2025

(Q4)Mar 31, 2025

(Q3)Dec 31, 2024

(Q2)Sep 30, 2024

(Q1)Jun 30, 2024

(FY)Mar 31, 2024

(Q4)Mar 31, 2024

Assets

Current assets

Cash, cash equivalents and short term investments

2.78%19.42B

-5.19%14.98B

-7.68%15.43B

-11.59%16.55B

2.91%18.89B

-4.15%15.8B

-6.06%16.72B

28.76%18.72B

-Cash and cash equivalents

2.78%19.42B

-5.19%14.98B

-7.68%15.43B

-11.59%16.55B

2.91%18.89B

-4.15%15.8B

-6.06%16.72B

28.76%18.72B

Receivables

0.13%43.23B

-8.48%39.89B

-7.83%39.95B

-5.36%41.37B

-3.15%43.17B

-2.81%43.59B

4.60%43.35B

3.35%43.71B

-Accounts receivable

-0.14%42.72B

-9.47%39.13B

-7.82%39.58B

-5.40%40.99B

-3.26%42.78B

-2.82%43.22B

4.55%42.94B

3.37%43.33B

-Gross accounts receivable

-0.14%42.72B

-9.47%39.13B

-7.82%39.58B

-5.40%40.99B

-3.26%42.78B

-2.82%43.22B

4.55%42.94B

3.37%43.33B

-Other receivables

29.22%513M

107.30%767M

-8.91%368M

-0.79%377M

9.67%397M

-2.12%370M

10.38%404M

0.80%380M

Inventory

-3.17%33.86B

-5.34%34.29B

-2.58%35.77B

-2.23%34.79B

-9.69%34.97B

-6.34%36.23B

-16.84%36.72B

-26.03%35.59B

Other current assets

8.14%14.11B

3.77%12.53B

4.98%13.43B

2.66%11.43B

-0.09%13.05B

-1.89%12.07B

8.10%12.79B

-7.47%11.13B

Total current assets

0.49%110.62B

-5.57%101.69B

-4.55%104.59B

-4.59%104.14B

-4.04%110.08B

-4.12%107.68B

-4.90%109.58B

-6.69%109.16B

Non current assets

Net PPE

0.40%191.36B

3.89%196.25B

4.47%193.97B

3.95%191.79B

5.04%190.6B

3.84%188.91B

4.56%185.67B

4.50%184.5B

-Gross PP&E

2.25%799.68B

2.80%799.35B

3.01%793.29B

2.88%787.03B

3.25%782.08B

3.21%777.6B

3.34%770.14B

3.31%764.99B

-Accumulated depreciation

-2.85%-608.32B

-2.45%-603.1B

-2.54%-599.32B

-2.54%-595.24B

-2.69%-591.48B

-3.01%-588.69B

-2.96%-584.47B

-2.94%-580.49B

Total investment

5.90%42.3B

-7.37%41.04B

-7.43%42.02B

-12.21%39.37B

-10.01%39.94B

-3.48%44.31B

0.88%45.39B

-6.14%44.85B

-Financial asset investment

5.90%42.3B

-7.37%41.04B

-7.43%42.02B

-12.21%39.37B

-10.01%39.94B

-3.48%44.31B

0.88%45.39B

-6.14%44.85B

-Including:Available-for-sale securities

5.90%42.3B

-7.37%41.04B

-7.43%42.02B

-12.21%39.37B

-10.01%39.94B

-3.48%44.31B

0.88%45.39B

-6.14%44.85B

Long-term accounts receivable and other receivables

-11.86%4.06B

-11.96%3.76B

-13.33%4.15B

-4.99%4.31B

7.20%4.6B

-4.78%4.27B

11.15%4.79B

12.66%4.53B

Goodwill and other intangible assets

-3.29%3.18B

-4.16%3.25B

-6.33%3.29B

-4.83%3.47B

-5.22%3.28B

-3.80%3.39B

-1.98%3.51B

-0.22%3.64B

-Goodwill

-82.05%7M

-68.09%15M

-58.18%23M

-50.79%31M

-45.07%39M

-40.51%47M

-36.78%55M

-33.68%63M

-Other intangible assets

-2.34%3.17B

-3.26%3.23B

-5.50%3.26B

-4.02%3.44B

-4.39%3.25B

-2.96%3.34B

-1.12%3.45B

0.67%3.58B

Defined pension benefit

9.43%4.34B

9.89%4.28B

9.52%4.2B

9.68%4.17B

95.56%3.97B

97.16%3.89B

100.26%3.83B

105.46%3.8B

Deferred tax assets-non current

3.75%997M

-1.68%1.05B

9.63%1.07B

2.01%1.01B

-11.35%961M

-12.29%1.07B

-18.73%976M

-14.90%994M

Other non current assets

16.01%5.57B

7.58%5.18B

-3.67%4.7B

-0.85%4.77B

-2.91%4.8B

-0.04%4.81B

7.40%4.87B

5.67%4.81B

Total non current assets

1.46%251.8B

1.66%254.8B

1.75%253.39B

0.71%248.88B

2.69%248.16B

2.79%250.64B

4.59%249.04B

3.15%247.13B

Total assets

1.16%362.42B

-0.51%356.49B

-0.18%357.98B

-0.91%353.03B

0.52%358.25B

0.61%358.33B

1.49%358.62B

-0.08%356.28B

Liabilities

Current liabilities

Financial liabilities

9.35%39.45B

-12.53%33.06B

-12.61%37.44B

-3.08%32.47B

-17.24%36.08B

-14.91%37.79B

-15.62%42.84B

-37.44%33.5B

-Current debt and capital lease obligation

9.35%39.45B

-12.53%33.06B

-12.61%37.44B

-3.08%32.47B

-17.24%36.08B

-14.91%37.79B

-15.62%42.84B

-37.44%33.5B

-Including:Current debt

9.35%39.45B

-12.53%33.06B

-12.61%37.44B

-3.08%32.47B

-17.24%36.08B

-14.91%37.79B

-15.62%42.84B

-37.44%33.5B

Payables

-1.93%29.25B

-18.95%29.18B

-5.16%30.47B

-11.47%29.95B

-4.95%29.83B

12.93%36B

10.00%32.12B

9.00%33.83B

-accounts payable

-4.60%27.53B

-21.51%27.36B

-6.10%29.58B

-8.23%28.27B

-2.91%28.86B

14.37%34.85B

10.86%31.5B

3.79%30.8B

-Total tax payable

77.69%1.72B

58.76%1.82B

42.38%887M

-44.43%1.69B

-41.55%968M

-18.42%1.15B

-21.04%623M

122.29%3.03B

Pension and other retirement benefit plans

4.34%1.3B

2.93%2.7B

1.98%1.54B

5.91%2.69B

2.55%1.25B

3.83%2.63B

1.34%1.51B

1.08%2.54B

Other current liabilities

-14.14%18.95B

17.46%21.98B

17.44%20.77B

-4.30%18.63B

30.29%22.07B

13.04%18.71B

4.24%17.68B

30.32%19.47B

Current liabilities

-0.30%88.95B

-8.63%86.91B

-4.19%90.21B

-6.27%83.74B

-4.19%89.22B

-0.26%95.12B

-4.34%94.16B

-12.45%89.34B

Non current liabilities

Non current financial liabilities

0.31%53.2B

2.64%49.81B

6.40%49.28B

10.51%50.86B

8.38%53.04B

-1.20%48.53B

2.57%46.31B

-0.30%46.03B

-Long term debt and capital lease obligation

0.31%53.2B

2.64%49.81B

6.40%49.28B

10.51%50.86B

8.38%53.04B

-1.20%48.53B

2.57%46.31B

-0.30%46.03B

-Including:Long term debt

0.31%53.2B

2.64%49.81B

6.40%49.28B

10.51%50.86B

8.38%53.04B

-1.20%48.53B

2.57%46.31B

-0.30%46.03B

Long term provisions

1.90%268M

1.91%267M

1.92%266M

1.54%264M

1.54%263M

1.95%262M

-1.51%261M

-1.89%260M

Long term pension and other post-retirement benefit plans

2.38%1.25B

6.57%1.23B

10.22%1.23B

14.07%1.27B

13.82%1.22B

10.73%1.16B

4.99%1.12B

5.92%1.11B

Non current deferred liabilities

30.01%11.92B

20.21%11.01B

2.67%10.64B

-0.13%9.56B

-3.43%9.17B

-0.27%9.16B

14.74%10.37B

-4.12%9.57B

Other non current liabilities

-1.02%13.65B

-1.03%13.64B

2.85%13.52B

3.63%13.68B

4.17%13.79B

7.25%13.78B

4.89%13.14B

5.90%13.2B

Total non current liabilities

3.62%80.29B

4.21%75.96B

5.24%74.93B

7.79%75.63B

6.13%77.48B

0.60%72.88B

4.63%71.2B

0.35%70.17B

Total liabilities

1.52%169.24B

-3.06%162.87B

-0.13%165.14B

-0.09%159.37B

0.34%166.7B

0.11%168.01B

-0.67%165.36B

-7.24%159.51B

Shareholders'equity

Share capital

0.00%41.65B

-common stock

0.00%41.65B

Additional paid-in capital

0.00%10.47B

-0.21%10.47B

0.00%10.49B

-0.60%10.49B

Retained earnings

0.16%117.58B

4.61%123.34B

1.35%119.23B

0.61%119.74B

2.72%117.39B

5.64%117.9B

6.06%117.65B

10.41%119.02B

Less: Treasury stock

39.90%1.44B

12.27%5.96B

5.62%2.99B

218.97%992M

236.60%1.03B

1,663.12%5.31B

936.63%2.83B

14.34%311M

Other reserves

8.76%22.33B

-6.79%21.57B

-8.32%21.9B

-13.90%20.23B

-5.76%20.53B

2.64%23.14B

9.31%23.89B

3.45%23.5B

Total stockholders'equity

0.83%190.59B

1.70%191.07B

-0.30%190.27B

-1.67%191.1B

0.59%189.02B

1.01%187.88B

3.33%190.85B

6.53%194.34B

Noncontrolling interests

2.53%2.59B

4.34%2.55B

6.55%2.57B

5.43%2.56B

7.66%2.53B

4.27%2.44B

11.45%2.41B

12.92%2.43B

Total equity

0.85%193.18B

1.73%193.62B

-0.22%192.84B

-1.58%193.66B

0.68%191.55B

1.05%190.32B

3.42%193.26B

6.60%196.77B

Currency Unit

JPY

Accounting Standards

NonUS-GAAP

	(Q3)Dec 31, 2025	(Q2)Sep 30, 2025	(Q1)Jun 30, 2025	(FY)Mar 31, 2025	(Q4)Mar 31, 2025	(Q3)Dec 31, 2024	(Q2)Sep 30, 2024	(Q1)Jun 30, 2024	(FY)Mar 31, 2024	(Q4)Mar 31, 2024
Assets
Current assets
Cash, cash equivalents and short term investments	2.78%19.42B	-5.19%14.98B	-7.68%15.43B	-11.59%16.55B	-11.59%16.55B	2.91%18.89B	-4.15%15.8B	-6.06%16.72B	28.76%18.72B	28.76%18.72B
-Cash and cash equivalents	2.78%19.42B	-5.19%14.98B	-7.68%15.43B	-11.59%16.55B	-11.59%16.55B	2.91%18.89B	-4.15%15.8B	-6.06%16.72B	28.76%18.72B	28.76%18.72B
Receivables	0.13%43.23B	-8.48%39.89B	-7.83%39.95B	-5.36%41.37B	-5.36%41.37B	-3.15%43.17B	-2.81%43.59B	4.60%43.35B	3.35%43.71B	3.35%43.71B
-Accounts receivable	-0.14%42.72B	-9.47%39.13B	-7.82%39.58B	-5.40%40.99B	-5.40%40.99B	-3.26%42.78B	-2.82%43.22B	4.55%42.94B	3.37%43.33B	3.37%43.33B
-Gross accounts receivable	-0.14%42.72B	-9.47%39.13B	-7.82%39.58B	-5.40%40.99B	-5.40%40.99B	-3.26%42.78B	-2.82%43.22B	4.55%42.94B	3.37%43.33B	3.37%43.33B
-Other receivables	29.22%513M	107.30%767M	-8.91%368M	-0.79%377M	-0.79%377M	9.67%397M	-2.12%370M	10.38%404M	0.80%380M	0.80%380M
Inventory	-3.17%33.86B	-5.34%34.29B	-2.58%35.77B	-2.23%34.79B	-2.23%34.79B	-9.69%34.97B	-6.34%36.23B	-16.84%36.72B	-26.03%35.59B	-26.03%35.59B
Other current assets	8.14%14.11B	3.77%12.53B	4.98%13.43B	2.66%11.43B	2.66%11.43B	-0.09%13.05B	-1.89%12.07B	8.10%12.79B	-7.47%11.13B	-7.47%11.13B
Total current assets	0.49%110.62B	-5.57%101.69B	-4.55%104.59B	-4.59%104.14B	-4.59%104.14B	-4.04%110.08B	-4.12%107.68B	-4.90%109.58B	-6.69%109.16B	-6.69%109.16B
Non current assets
Net PPE	0.40%191.36B	3.89%196.25B	4.47%193.97B	3.95%191.79B	3.95%191.79B	5.04%190.6B	3.84%188.91B	4.56%185.67B	4.50%184.5B	4.50%184.5B
-Gross PP&E	2.25%799.68B	2.80%799.35B	3.01%793.29B	2.88%787.03B	2.88%787.03B	3.25%782.08B	3.21%777.6B	3.34%770.14B	3.31%764.99B	3.31%764.99B
-Accumulated depreciation	-2.85%-608.32B	-2.45%-603.1B	-2.54%-599.32B	-2.54%-595.24B	-2.54%-595.24B	-2.69%-591.48B	-3.01%-588.69B	-2.96%-584.47B	-2.94%-580.49B	-2.94%-580.49B
Total investment	5.90%42.3B	-7.37%41.04B	-7.43%42.02B	-12.21%39.37B	-12.21%39.37B	-10.01%39.94B	-3.48%44.31B	0.88%45.39B	-6.14%44.85B	-6.14%44.85B
-Financial asset investment	5.90%42.3B	-7.37%41.04B	-7.43%42.02B	-12.21%39.37B	-12.21%39.37B	-10.01%39.94B	-3.48%44.31B	0.88%45.39B	-6.14%44.85B	-6.14%44.85B
-Including:Available-for-sale securities	5.90%42.3B	-7.37%41.04B	-7.43%42.02B	-12.21%39.37B	-12.21%39.37B	-10.01%39.94B	-3.48%44.31B	0.88%45.39B	-6.14%44.85B	-6.14%44.85B
Long-term accounts receivable and other receivables	-11.86%4.06B	-11.96%3.76B	-13.33%4.15B	-4.99%4.31B	-4.99%4.31B	7.20%4.6B	-4.78%4.27B	11.15%4.79B	12.66%4.53B	12.66%4.53B
Goodwill and other intangible assets	-3.29%3.18B	-4.16%3.25B	-6.33%3.29B	-4.83%3.47B	-4.83%3.47B	-5.22%3.28B	-3.80%3.39B	-1.98%3.51B	-0.22%3.64B	-0.22%3.64B
-Goodwill	-82.05%7M	-68.09%15M	-58.18%23M	-50.79%31M	-50.79%31M	-45.07%39M	-40.51%47M	-36.78%55M	-33.68%63M	-33.68%63M
-Other intangible assets	-2.34%3.17B	-3.26%3.23B	-5.50%3.26B	-4.02%3.44B	-4.02%3.44B	-4.39%3.25B	-2.96%3.34B	-1.12%3.45B	0.67%3.58B	0.67%3.58B
Defined pension benefit	9.43%4.34B	9.89%4.28B	9.52%4.2B	9.68%4.17B	9.68%4.17B	95.56%3.97B	97.16%3.89B	100.26%3.83B	105.46%3.8B	105.46%3.8B
Deferred tax assets-non current	3.75%997M	-1.68%1.05B	9.63%1.07B	2.01%1.01B	2.01%1.01B	-11.35%961M	-12.29%1.07B	-18.73%976M	-14.90%994M	-14.90%994M
Other non current assets	16.01%5.57B	7.58%5.18B	-3.67%4.7B	-0.85%4.77B	-0.85%4.77B	-2.91%4.8B	-0.04%4.81B	7.40%4.87B	5.67%4.81B	5.67%4.81B
Total non current assets	1.46%251.8B	1.66%254.8B	1.75%253.39B	0.71%248.88B	0.71%248.88B	2.69%248.16B	2.79%250.64B	4.59%249.04B	3.15%247.13B	3.15%247.13B
Total assets	1.16%362.42B	-0.51%356.49B	-0.18%357.98B	-0.91%353.03B	-0.91%353.03B	0.52%358.25B	0.61%358.33B	1.49%358.62B	-0.08%356.28B	-0.08%356.28B
Liabilities
Current liabilities
Financial liabilities	9.35%39.45B	-12.53%33.06B	-12.61%37.44B	-3.08%32.47B	-3.08%32.47B	-17.24%36.08B	-14.91%37.79B	-15.62%42.84B	-37.44%33.5B	-37.44%33.5B
-Current debt and capital lease obligation	9.35%39.45B	-12.53%33.06B	-12.61%37.44B	-3.08%32.47B	-3.08%32.47B	-17.24%36.08B	-14.91%37.79B	-15.62%42.84B	-37.44%33.5B	-37.44%33.5B
-Including:Current debt	9.35%39.45B	-12.53%33.06B	-12.61%37.44B	-3.08%32.47B	-3.08%32.47B	-17.24%36.08B	-14.91%37.79B	-15.62%42.84B	-37.44%33.5B	-37.44%33.5B
Payables	-1.93%29.25B	-18.95%29.18B	-5.16%30.47B	-11.47%29.95B	-11.47%29.95B	-4.95%29.83B	12.93%36B	10.00%32.12B	9.00%33.83B	9.00%33.83B
-accounts payable	-4.60%27.53B	-21.51%27.36B	-6.10%29.58B	-8.23%28.27B	-8.23%28.27B	-2.91%28.86B	14.37%34.85B	10.86%31.5B	3.79%30.8B	3.79%30.8B
-Total tax payable	77.69%1.72B	58.76%1.82B	42.38%887M	-44.43%1.69B	-44.43%1.69B	-41.55%968M	-18.42%1.15B	-21.04%623M	122.29%3.03B	122.29%3.03B
Pension and other retirement benefit plans	4.34%1.3B	2.93%2.7B	1.98%1.54B	5.91%2.69B	5.91%2.69B	2.55%1.25B	3.83%2.63B	1.34%1.51B	1.08%2.54B	1.08%2.54B
Other current liabilities	-14.14%18.95B	17.46%21.98B	17.44%20.77B	-4.30%18.63B	-4.30%18.63B	30.29%22.07B	13.04%18.71B	4.24%17.68B	30.32%19.47B	30.32%19.47B
Current liabilities	-0.30%88.95B	-8.63%86.91B	-4.19%90.21B	-6.27%83.74B	-6.27%83.74B	-4.19%89.22B	-0.26%95.12B	-4.34%94.16B	-12.45%89.34B	-12.45%89.34B
Non current liabilities
Non current financial liabilities	0.31%53.2B	2.64%49.81B	6.40%49.28B	10.51%50.86B	10.51%50.86B	8.38%53.04B	-1.20%48.53B	2.57%46.31B	-0.30%46.03B	-0.30%46.03B
-Long term debt and capital lease obligation	0.31%53.2B	2.64%49.81B	6.40%49.28B	10.51%50.86B	10.51%50.86B	8.38%53.04B	-1.20%48.53B	2.57%46.31B	-0.30%46.03B	-0.30%46.03B
-Including:Long term debt	0.31%53.2B	2.64%49.81B	6.40%49.28B	10.51%50.86B	10.51%50.86B	8.38%53.04B	-1.20%48.53B	2.57%46.31B	-0.30%46.03B	-0.30%46.03B
Long term provisions	1.90%268M	1.91%267M	1.92%266M	1.54%264M	1.54%264M	1.54%263M	1.95%262M	-1.51%261M	-1.89%260M	-1.89%260M
Long term pension and other post-retirement benefit plans	2.38%1.25B	6.57%1.23B	10.22%1.23B	14.07%1.27B	14.07%1.27B	13.82%1.22B	10.73%1.16B	4.99%1.12B	5.92%1.11B	5.92%1.11B
Non current deferred liabilities	30.01%11.92B	20.21%11.01B	2.67%10.64B	-0.13%9.56B	-0.13%9.56B	-3.43%9.17B	-0.27%9.16B	14.74%10.37B	-4.12%9.57B	-4.12%9.57B
Other non current liabilities	-1.02%13.65B	-1.03%13.64B	2.85%13.52B	3.63%13.68B	3.63%13.68B	4.17%13.79B	7.25%13.78B	4.89%13.14B	5.90%13.2B	5.90%13.2B
Total non current liabilities	3.62%80.29B	4.21%75.96B	5.24%74.93B	7.79%75.63B	7.79%75.63B	6.13%77.48B	0.60%72.88B	4.63%71.2B	0.35%70.17B	0.35%70.17B
Total liabilities	1.52%169.24B	-3.06%162.87B	-0.13%165.14B	-0.09%159.37B	-0.09%159.37B	0.34%166.7B	0.11%168.01B	-0.67%165.36B	-7.24%159.51B	-7.24%159.51B
Shareholders'equity
Share capital	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B
-common stock	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B	0.00%41.65B
Additional paid-in capital	0.00%10.47B	-0.21%10.47B	-0.21%10.47B	-0.21%10.47B	-0.21%10.47B	-0.21%10.47B	0.00%10.49B	-0.60%10.49B	-0.60%10.49B	-0.60%10.49B
Retained earnings	0.16%117.58B	4.61%123.34B	1.35%119.23B	0.61%119.74B	0.61%119.74B	2.72%117.39B	5.64%117.9B	6.06%117.65B	10.41%119.02B	10.41%119.02B
Less: Treasury stock	39.90%1.44B	12.27%5.96B	5.62%2.99B	218.97%992M	218.97%992M	236.60%1.03B	1,663.12%5.31B	936.63%2.83B	14.34%311M	14.34%311M
Other reserves	8.76%22.33B	-6.79%21.57B	-8.32%21.9B	-13.90%20.23B	-13.90%20.23B	-5.76%20.53B	2.64%23.14B	9.31%23.89B	3.45%23.5B	3.45%23.5B
Total stockholders'equity	0.83%190.59B	1.70%191.07B	-0.30%190.27B	-1.67%191.1B	-1.67%191.1B	0.59%189.02B	1.01%187.88B	3.33%190.85B	6.53%194.34B	6.53%194.34B
Noncontrolling interests	2.53%2.59B	4.34%2.55B	6.55%2.57B	5.43%2.56B	5.43%2.56B	7.66%2.53B	4.27%2.44B	11.45%2.41B	12.92%2.43B	12.92%2.43B
Total equity	0.85%193.18B	1.73%193.62B	-0.22%192.84B	-1.58%193.66B	-1.58%193.66B	0.68%191.55B	1.05%190.32B	3.42%193.26B	6.60%196.77B	6.60%196.77B
Currency Unit	JPY	JPY	JPY	JPY	JPY	JPY	JPY	JPY	JPY	JPY
Accounting Standards	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP	NonUS-GAAP

Middle East conflict spreads to the stock market! How should investors respond?

On April 17, the Iranian foreign minister announced the opening of the Strait of Hormuz to merchant ships, and Trump immediately posted a me Show More

牛牛課堂

Mar 4 17:09

Long-term answers | Your account on the left shrinks, while your right hand is chased by the times — Be the person that no bombardment can ever wipe out.

牛牛課堂

Mar 18 18:18

Hormuz, Term Structure and USO: Navigating the Energy Storm