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Crude and Refined Products Price Review and Outlook  Crude oil prices on the global market rose to an average of about US$124/bbl in the pricing window under review, following the resurgence and escalation of hostilities between the US and Iran.  The conflict triggered a significant surge in international crude prices, which peaked at about US$130/bbl

Crude and Refined Products Price Review and Outlook     Global crude oil prices continue to surge following the resumption of military strikes between the US and Iran in recent weeks, after the negotiations for a truce between the two parties failed. The resurgence of the war significantly disrupted the global energy supply chain, leading to an

Crude and Refined Products Price Review and Outlook     Crude oil prices on the global market have again surged towards the US$90/bbl mark after falling significantly from the peak of about US$130/bbl recorded during the height of the US-Iran conflict in April and May to an average of US$71/bbl in July. However, stalled negotiations and renewed

The 7th Ghana International Petroleum Conference (GhIPCon 2026) brought together over 600 industry leaders, policymakers, regulators, investors, and other stakeholders for two days of dialogue on the future of Ghana’s downstream petroleum industry. Held on 16th–17th July 2026 at the La Palm Royal Beach Hotel in Accra, the conference was organised by the Ghana Chamber

The Chamber has reinforced its commitment to environmental sustainability with the planting of 1,000 trees across one hectare of land as part of its annual tree-planting initiative at the Chipa Forest Reserve. This year’s exercise involved the planting of Cassia and Acacia trees, continuing the Chamber’s contribution towards improving forest cover and supporting environmental restoration.

Crude and Refined Products Price Review and Outlook     Crude oil prices on the global market remain elevated amid concerns over supply disruptions in the Middle East, as ceasefire negotiations between the US and Iran continue to stall, heightening uncertainty over the region’s oil supply and the broader geopolitical dynamics involving several countries. Renewed escalation of

PRESS RELEASE FOR IMMEDIATE RELEASE – Rejoinder to the Headline: “Fuel Prices Could Change Daily as Bulk Oil Distributors Abandon Fixed Pricing Model” Accra, Ghana – 3 August 2026 – The Ghana Chamber of Bulk Oil Distributors (CBOD) wishes to clarify that the headline published by Joy Business on MyJoyOnline on 3 August 2026 misrepresents

Crude and Refined Products Price Review and Outlook     The renewed escalation of hostilities between the US and Iran during the second half of July reignited geopolitical tensions in the Middle East, reversing the sharp decline in crude oil prices witnessed earlier in the month. Following the ceasefire reached in late June, Brent crude had fallen

Crude and Refined Products Price Review and Outlook     Crude and Refined Products Price Review and Outlook Although international crude oil prices fell below USD70/bbl for the first time since the escalation of hostilities involving the United States, Israel, and Iran in early March, prices remained elevated relative to pre-conflict levels. The sharp decline in crude

Crude and Refined Products Price Review and Outlook     Global crude oil prices declined by 19.73% during the period under review, representing a substantial 39.82% correction from the war-induced peak of USD130/bbl recorded at the height of the US/Israel–Iran conflict. Crude oil prices averaged USD78.12/bbl, approximately 4.96% above pre-conflict levels. The sharp decline was primarily driven