… The International Energy Agency is not currently discussing a second release of oil from its strategic reserves, its chief, Fatih Birol, said on Monday.
… The prospect of a longer war constraining supply was offset this week by forecasts from OPEC and the International Energy Agency lowering outlooks for demand growth, while data showed the largest weekly gain in U.S. …
… The producer group continues to see a smaller impact on consumption since the Iran war started than other forecasters such as the International Energy Agency, which expects demand to decline in 2026. …
… On the same day, the International Energy Agency said it expects a 1.6 million bpd contraction in consumption this year, down from a forecast of 1 million bpd last month, because of restricted fuel supplies and higher prices from the U.S.-Israeli war on Iran that have curtaile …
… A fifth of the world’s oil and liquefied natural gas used to transit through the strait and the head of the International Energy Agency, Fatih Birol, said he had concerns about global energy supplies. …
… A fifth of the world’s oil and liquefied natural gas used to transit through the strait and the head of the International Energy Agency, Fatih Birol, said he had concerns about global energy supplies. …
… ile, Qatar’s defence ministry said its armed forces thwarted an Iranian missile attack early on Friday, while the interior ministry said a child was injured by shrapnel resulting from interception operations. “Oil security is still a critical issue,” International Energy Agency …
… Following the agreement, global oil supply rose by 4.1 million barrels per day in June, but remained 9.4 million bpd below pre-war levels, the International Energy Agency said in its monthly report on Friday. …
… The decline in crude oil prices during that period was also attributed to weaker Chinese imports, record high US oil exports, and continued releases from strategic petroleum reserves by member countries of the International Energy Agency (IEA).
Britain is in talks with EU partners to release additional strategic fuel reserves, including diesel, if needed, following President Trump's threatened ban on US diesel exports. Diesel prices in the UK hit record highs this week, hovering just under 200p per litre.
Britain is in talks with EU partners to release additional strategic fuel reserves, including diesel, if needed, following President Trump's threatened ban on US diesel exports. Diesel prices in the UK hit record highs this week, hovering just under 200p per litre.
An Institute for Energy Security analysis notes that while geopolitical tensions in the Strait of Hormuz have pushed Brent crude above US$100 per barrel, Ghana's domestic fuel prices have been moderated by relative exchange-rate stability, disinflation, and targeted fuel relief, despite the country depending on imports for over 60% of petroleum products.
The National Petroleum Authority says Ghana currently has at least six weeks of fuel cover, dismissing imminent shortage concerns. The NPA CEO pointed to available stocks and fuel cargoes at sea as providing a significant buffer, though he flagged price—rather than supply availability—as his immediate concern.
In Zuuku, near Bawku in the Upper East Region, households are using dried maize and millet stalks as cooking fuel—a traditional practice that provides an affordable alternative as firewood becomes scarce and charcoal is difficult to access. Women also sell surplus stalks for additional income, helping reduce pressure on local forests.
The International Energy Agency forecasts global coal demand will rise 1.2% in 2026 to a record 8.94 billion tonnes, driven by disruptions to oil and liquefied natural gas shipments through the Strait of Hormuz since the U.S.-Iran war began, encouraging higher coal-based electricity generation in countries with spare coal capacity. Future demand depends on whether shipping traffic through Hormuz recovers; if the strait remains largely closed to LNG shipments, coal demand could increase further.
Brent crude oil futures surpassed $100 a barrel on Wednesday, a more than six-week high, amid intensifying Middle East conflict that threatens oil flows from the region. Prices have risen a quarter since early last month as the six-month-old U.S.-Iran conflict continues, with recent Houthi attacks on Saudi energy facilities and crude shipments via the Red Sea raising supply concerns.
Ghana is considering establishment of a specialised Electric Vehicle Capacity Building Centre to train mechanics in maintenance and repair of electric vehicles as the country prepares for growth in the EV industry. The Minister for Lands and Natural Resources said the initiative is necessary as countries shift from fossil-fuel-powered vehicles to cleaner alternatives, and Ghana must develop technical expertise to support electric mobility.
Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah visited Chinese environmental protection company Longking to explore advanced green technologies for Ghana's mining sector, touring electric trucks and environmental installations, and invited the company to establish operations in Ghana.
Ghana is engaging multiple foreign powers—Russia, the US, China, the EU, and the UK—in negotiations over trade, investment, energy, defence, and mineral exploration, reflecting a strategy of diplomatic diversification rather than alignment with a single partner. The article examines how Ghana uses its resources and strategic position to bargain with competing powers while managing the risk of shifting dependence rather than achieving genuine autonomy.
Former Minister Samuel Jinapor called for just and equitable governance of critical minerals, warning against repeating patterns of exporting raw materials while importing finished products. He stressed that Africa's deposits of lithium, cobalt, graphite, nickel, manganese and other minerals represent major economic transformation opportunities, but resource-rich countries currently capture only a fraction of the value because refining, manufacturing and technological development occur elsewhere.
Oil prices slipped more than $2 a barrel on Monday as investors took profits after recent gains, with Brent crude settling down 2.35% to $92.17 and U.S. West Texas Intermediate crude falling 2.35% to $85.01, despite new U.S. sanctions on Iran announced by Treasury Secretary Scott Bessent.
Oil prices edged up on Friday after the United States threatened an indefinite naval blockade of Iran, offsetting earlier bearish signals from weaker demand outlook and large US stock builds. Brent crude rose to $87.08 a barrel and WTI to $81.31 a barrel, with both benchmarks tracking weekly gains of about 4%.
OPEC on Wednesday cut its forecast for world oil demand growth in 2026 to 580,000 barrels per day, marking the fourth consecutive downward revision. The group raised its 2027 oil demand growth forecast, though it continues to forecast less impact from the Iran war than the International Energy Agency.
Oil prices dropped more than $1 per barrel on Thursday as OPEC and the International Energy Agency lowered global oil demand projections for 2026 due to disruptions from the U.S.-Israeli war on Iran, though supply constraints from the conflict provided support for the market.
Iran has accused the US of hitting civilian infrastructure including bridges, a train station and an airport in air strikes since peace talks collapsed. BBC Verify confirmed an attack on a bridge in Hormozgan province, and provincial authorities said seven people were killed on Thursday night.
Iran has accused the US of hitting civilian infrastructure including bridges, a train station and an airport in air strikes since peace talks collapsed. US Central Command says the attacks were intended to degrade Iranian military capabilities, and seven people were killed in strikes on Thursday night according to provincial authorities.
Brent crude rose 0.83% to $84.93 a barrel and WTI rose 1.03% to $79.76 a barrel on Friday as US-Iran hostilities escalated and Tehran asked the Houthis to prepare to shut the Red Sea export route, with both benchmarks climbing nearly 12% for the week.
Oil prices jumped over 4% on Monday as U.S. and Iranian military strikes escalated, threatening energy shipments via the Strait of Hormuz. Brent crude climbed to $79.11 per barrel while U.S. West Texas Intermediate rose to $74.36, with only six vessels transiting the strait on Sunday—the lowest in five weeks.
Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies, says petroleum product prices will be reduced at pumps from July 16, 2026, based on international market developments and cedi stability over the past month.
The International Energy Agency forecasts a significant downturn in global oil demand for 2026, the first annual decline since the 2020 pandemic, citing Middle East conflict and the closure of the Strait of Hormuz as primary drivers of disrupted production and export routes.
The chief executive of Adura, the owner of the Jackdaw gas platform in the North Sea, told BBC News that government approval is "hyper critical" to avoid domestic supply shortages this winter, saying the project could meet 6% of UK gas needs from 1 October. Environmental campaigners oppose the project, citing this summer's record heatwaves as evidence of the need to tackle climate change.
Oil Marketing Companies including GOIL and Zen Petroleum have reduced petrol and diesel prices in line with Ghana's bi-weekly fuel price review, following the National Petroleum Authority's announcement of lower price floors for the June 16–30 pricing window.
The Chief Executive Officer of the Chamber of Oil Marketing Companies says easing tensions between Iran and the United States could sustain recent declines in global crude oil prices and push them below $80 per barrel. Crude oil prices have dropped from about $110 to $97 per barrel this month, attributed to weaker Chinese imports, record-high US oil exports, and strategic petroleum reserve releases.
Petrol, diesel, and LPG prices are projected to drop significantly during the second pricing window of June, with petrol expected to fall by up to 9.31% to around GH¢14.72 per litre. The decline is attributed to falling global oil prices, though cedi depreciation has limited the extent of the cuts.
Turkey's COP31 President-Designate Murat Kurum announced a global electrification target to increase the share of final energy demand met by electricity from just over 20% today to 35% by 2035, aiming to accelerate the shift from direct fossil fuel use to clean electricity across buildings, transport and industry.
Ferrari unveiled its first electric vehicle, the Luce, designed by iPhone designer Sir Jony Ive, but the $640,000 five-seater car faced widespread criticism from investors, politicians, and internet users, with the firm's shares falling 8% after the launch and a former chairman warning it risks destroying the brand's legend.
Finance ministers from the Group of Seven are meeting in Paris to coordinate a response to the prolonged closure of the Strait of Hormuz caused by Iran-related conflict, which has disrupted vital oil and gas supplies through the maritime chokepoint that typically handles roughly a fifth of the world's petroleum liquids.
Airlines globally cancelled 13,000 flights in May as jet fuel prices surged due to Middle East conflict, removing nearly two million seats; the cancellations represent 1% of global flights, with UK departures to summer destinations unaffected.
Spirit Airlines has ceased operations immediately after failing to secure a $500m rescue deal from the Trump administration. The budget carrier, which was emerging from bankruptcy, cited a surge in jet fuel costs following the US-Israel war in Iran as a factor in its collapse.
The World Meteorological Organization indicates El Niño conditions may develop in 2026, potentially raising global temperatures into 2027 and disrupting rainfall patterns. For Ghana, this could intensify disruptions to rainfall, flooding, and pressure on food and energy systems, with agriculture particularly vulnerable as farming systems depend heavily on seasonal rains.