After months of turbulence rooted in geopolitical conflict, the global urea market has returned to a kind of equilibrium — not through resolution of the underlying tensions, but through the patient logic of supply finding its way back to demand. Chinese exporters and Middle Eastern producers, having weathered the storm with stockpiles and floating reserves, are now releasing their accumulated stores into a world that had learned, briefly, to go without. The stabilization near $400 per ton is less a triumph than a restoration, a reminder that markets, like rivers, eventually find their level —