Iran tensions, supply fears lift oil above $90

Global oil prices surged above $90 per barrel due to escalating Iran tensions and Middle East supply fears. Learn how geopolitical events are impacting oil

Oil prices rebounded sharply on Wednesday due to renewed Middle East tensions. Concerns over global crude supplies and lower US inventories supported the market. Military developments in the region and air strikes on militant targets heightened worries. Shipping companies operating in the Gulf remain on alert amid fear

Economist Professor William Peprah has urged the government to explore closer energy cooperation with Nigeria as part of efforts to reduce Ghana's fuel import costs and cushion consumers from rising petroleum prices.

Gulf Coast refineries are welcoming the surge from Venezuela during the prolonged Strait of Hormuz closure that’s virtually halted imports from Iraq and Saudi Arabia.