Middle East Tensions Could Soon Push Oil Prices Higher for Ghana – Inusah Fuseini

Former Tamale Central MP, Inusah Fuseini, has cautioned that the rising conflict in the Middle East could soon lead to higher global oil prices, which would eventually affect countries like Ghana, even if they do not directly import crude oil through the troubled region.

His remarks come amid escalating tensions after reported joint military strikes by the United States and Israel on Iran, with Iran said to have retaliated by targeting neighbouring countries that host U.S. military bases.

Speaking on The Big Issue programme on Channel One TV, Fuseini warned that the conflict could have widespread consequences for the global energy market and may last for an extended period.

According to him, disruptions to international oil supply routes could cause a surge in global prices, which would ultimately impact Ghana regardless of where it imports its petroleum.

He explained that although Ghana does not transport oil through the affected route, the tension in the region would still influence international oil prices.

Fuseini added that countries in Europe that previously benefited from shorter supply routes from Asia may begin searching for alternative suppliers, including producers in Africa. This shift in demand, he said, could drive oil prices even higher.

He concluded that the developing conflict suggests a period of prolonged uncertainty in global energy markets and advised consumers worldwide to prepare for possible increases in fuel prices.