… Although a mid-June ceasefire had briefly eased tensions and brought down crude oil prices, he said renewed hostilities around the Strait of Hormuz had once again pushed Brent crude above 85 dollars per barrel, increasing volatility in international energy markets. …
… He said a mid-June ceasefire briefly eased geopolitical tensions before renewed hostilities around the Strait of Hormuz pushed Brent crude above US$85 a barrel. …
… He said a mid-June ceasefire briefly eased geopolitical tensions before renewed hostilities around the Strait of Hormuz pushed Brent crude above US$85 a barrel. …
… Trump wrote on Truth Social that it was a “very good” conversation, which saw the pair discuss “North Sea Oil, Trade, the Military Alliance, Demining of the Hormuz Strait, and many other topics”. …
… Trump wrote on Truth Social that it was a “very good” conversation, which saw the pair discuss “North Sea Oil, Trade, the Military Alliance, Demining of the Hormuz Strait, and many other topics”. …
… DROP IN TANKER TRAFFIC FROM GULF The collapse of a U.S.-Iran truce has reignited concerns over energy supplies moving through the Strait of Hormuz. …
… The Red Sea has become crucial for oil shipments from Saudi Arabia during the US-Israeli war with Iran, which has led to the effective closure of the Strait of Hormuz in the Gulf. …
… According to him, while a ceasefire in mid-June temporarily eased tensions and reduced oil prices, renewed hostilities around the Strait of Hormuz have reignited volatility in energy markets, with Brent crude climbing above 85 dollars per barrel earlier this week. …
Shell reported second-quarter profits of $9.84bn, more than double the $4.26bn from the same period last year, as the US-Israel conflict with Iran disrupted global oil supplies and pushed prices higher. The oil giant's first-half earnings surged 70% as rising crude prices and trading opportunities boosted results.
Shell reported second-quarter profits of $9.84bn, more than double the $4.26bn from the same period last year, as the US-Israel conflict with Iran disrupted global oil supplies and pushed prices higher. The oil giant's first-half earnings surged 70% as rising crude prices and trading opportunities boosted results.
The US military says it has completed a "heavy wave" of strikes against Iran in retaliation for Tuesday's attempted ballistic missile attacks on American forces, hitting "dozens" of Islamic Revolutionary Guard Corps targets. Iranian state media reported the latest strikes killed three people, including a two-year-old child, on Qeshm island and other locations in the south and west of the country.
Brent crude fell 1.42% to $89.45 a barrel and U.S. WTI crude fell 0.66% to $83.90 a barrel on Thursday as tankers continued to move out of the Middle East despite escalating U.S.-Iran tensions. Shipping data showed 39 commodity ships passed through the Bab el-Mandeb strait into the Red Sea on Tuesday, the highest number since July 19, as traders found alternative routes around the largely blocked Strait of Hormuz.
Saudi Arabia, which has largely avoided involvement in the US-Iran conflict since 28 February, has begun conducting joint strikes with the US on Iranian proxy militias in Iraq after being attacked from three sides. The kingdom now faces a choice between continuing retaliatory strikes as a deterrent or attempting to de-escalate through negotiation.
Saudi Arabia and the US carried out strikes against Iran-backed militias in Iraq, with Iraq's paramilitary Popular Mobilisation Forces reporting at least 20 members killed. The strikes followed an Iranian missile attack on US forces in the Middle East that was said to have been intercepted.
A drone struck a U.S.-owned gas storage tanker at Egypt's port of Damietta, causing a fire that spread to another vessel, according to British maritime security firm Ambrey. The incident occurred amid escalating tensions as the United States and Saudi Arabia struck Iran-backed groups in Iraq and oil prices spiked sharply.
Saudi Arabia and the US have carried out strikes against Iran-backed militias in Iraq in response to over 30 IRGC-directed aerial drone attacks in the last 72 hours, escalating Middle East tensions after Iran launched missiles at US forces.
Iran launched multiple ballistic missiles in an attempted surprise attack on US forces in the Middle East on Tuesday, with the US military saying all missiles were successfully intercepted. The strike broke a three-day lull in hostilities between the two countries, which had been intended to restart negotiations.
Economist Professor Williams Peprah has urged the government to explore closer energy cooperation with Nigeria to reduce Ghana's fuel import costs, citing global supply disruptions and longer shipping routes from geopolitical tensions as drivers of high petroleum prices.
US President Donald Trump said "there are very friendly negotiations going on" about the conflict with Iran after the warring sides did not exchange strikes for a third straight day, expressing optimism that "something could happen," though he warned Washington would resume strikes if talks fail. Tehran denied that direct negotiations are taking place.
Home heating oil prices in Northern Ireland surged from £346.59 to £445.37 per 500 litres in three weeks, a jump attributed to escalated fighting between the US and Iran. About two-thirds of Northern Ireland households rely on home heating oil, the highest proportion in any UK region.
President Trump has halted attacks on Iran for the third consecutive night to create space for talks, according to US ambassador Mike Waltz, while an Iranian spokesperson confirmed Tehran has also paused retaliatory attacks. Oil prices have dropped below $90 per barrel following the pause.
Oil prices tumbled 4% on Monday after the U.S. and Iran paused strikes over the weekend following two weeks of attacks, raising hopes for diplomatic de-escalation and resumption of shipping through the Strait of Hormuz. Brent crude fell to $92.82 a barrel and U.S. West Texas Intermediate to $85.29, both at their lowest levels in nearly a week.
The US ambassador to the UN said President Trump has paused attacks on Iran for the second night to give diplomacy more time, after nearly two weeks of daily US strikes and tit-for-tat attacks. Iran's army spokesperson said Tehran had halted "retaliatory" attacks in response, and Iran and Oman held technical talks on managing the Strait of Hormuz.
US President Donald Trump has paused attacks on Iran for the second night in a row to give diplomacy space, according to US Ambassador to the UN Mike Waltz. Iran's army spokesperson said Tehran had also halted "retaliatory" attacks in response, as Iran and Oman held technical talks on managing the Strait of Hormuz.
Eight months into Ghana's 2026 Budget reset, the cedi has remained broadly stable and the domestic bond market has reopened after a three-year absence, though observers note that sustaining discipline beyond the IMF programme and translating headline gains into better jobs and living standards remain key tests.
The US military has conducted strikes on Iran for the 13th consecutive night, with Iranian state media reporting four killed and five injured. President Trump said he would use frozen Iranian assets to fund damage to ships caused by attacks, while Iran's Foreign Minister condemned the threat as an incendiary precedent.
Yemen's Houthi fighters have attacked shipping in the Red Sea, forcing vessels to turn back from the Bab El Mandeb strait and threatening to disrupt the main maritime route from Europe to Asia. The attacks come amid escalating US-Iran strikes and a Saudi-nuclear deal that has raised regional tensions.
Yemen's Iranian-backed Houthis attacked two Saudi oil tankers in the Red Sea, saying they violated a blockade of Saudi ports, while the US carried out its 12th consecutive night of strikes on Iran. Oil prices surged to $100 per barrel following the escalation.
Brent crude oil rose more than 6% to over $100 per barrel on Thursday, its highest level in eight weeks, after Tehran-backed Houthi rebels claimed attacks on two Saudi oil tankers in the Red Sea and announced a naval blockade on the kingdom. The price surge reflects concerns over disruption to global supplies, as millions of barrels per day pass through the Bab el-Mandeb strait to reach global markets.
The Trump administration reached a nuclear agreement with Saudi Arabia for civilian energy programmes without requiring Saudi Arabia to normalise relations with Israel, reversing a long-standing U.S. policy stance that past presidents had tied to nuclear technology transfers.
The Governor of the Bank of Ghana has endorsed COCOBOD's transition from syndicated offshore loans to local market financing, saying the move will reduce liquidity injections into the domestic economy and strengthen monetary policy management.
Oil prices rose more than 1.5% to their highest in more than six weeks as the United States launched new strikes on Iran and Yemen's Houthis targeted oil tankers in the Red Sea. Brent crude futures rose to $96, while U.S. West Texas Intermediate crude rose to $88.27, driven by escalating tensions over control of key shipping routes including the Strait of Hormuz.
President Trump threatened that the US would destroy Iranian bridges or power plants, including targets near Tehran, if attacks on ships in the Strait of Hormuz continue. The threat follows US strikes on Iran for the 11th consecutive night, with Iranian air defences activated and explosions reported in several cities including Tabriz, Chabahar, Konarak, and Bushehr.
The Bank of Ghana Governor announced that Ghana's prolonged period of falling inflation has ended, with headline inflation rising to 5.3 percent in June from 3.2 percent in March, driven mainly by higher transport and haulage costs. Despite the increase, inflation remains below the Central Bank's medium-term target band of 8 percent plus or minus two percentage points, and the economy expanded 6.4 percent in the first quarter of 2026.
The US military struck Iranian military command centres, maritime capabilities, and air defence systems in the 10th consecutive night of attacks, as President Trump vowed retaliation for three US soldiers killed in Jordan and Iraq. Iran's President Pezeshkian said the country is fighting a "full-scale war" with the US and claimed Iranian forces struck two oil tankers in the Strait of Hormuz.
Brent crude futures rose 0.55% to $91.51 and U.S. West Texas Intermediate climbed 0.36% to $84.64 after U.S. forces struck Iranian military targets for the 11th straight night and Kuwait reported Iranian drone attacks. Fears of supply disruptions intensified as Yemen's Houthis threaten to target vessels carrying Saudi oil in the Red Sea.
The Bank of Ghana Governor says the Monetary Policy Committee will focus on recent inflation growth, which rose from 3.2% in March to 5.3% in June, driven largely by transport and haulage costs. He noted that while inflation remains below the target band of 6–10%, the committee must assess whether the rebound reflects temporary factors or signals a sustained trend.
The Governor of the Bank of Ghana has said the recent rise in inflation—which climbed from 3.2 per cent in March to 5.3 per cent in June—will dominate the Monetary Policy Committee's deliberations, as the committee assesses whether the increase reflects temporary factors or a sustained trend.
The Governor of the Bank of Ghana announced that the central bank has ceased pre-financing gold purchases by GoldBod through its auction arrangement, effective July 1. The decision marks a shift in domestic liquidity management and will be assessed by the Monetary Policy Committee as it reviews the appropriate policy stance.