Crude Reality — Brent Crosses $100 as Hormuz Blockade Triggers Inflation Alarm Bells

The Middle East war has delivered its economic verdict. Brent crude oil is trading between $100-$104 per barrel today as the Strait of Hormuz blockade continues to strangle global supply chains. The University of Michigan Consumer Sentiment Index in the US crashed to a three-month low. Central banks globally — including the US Federal Reserve and European Central Bank — are now weighing rate decisions amid economic chaos.

This is Phase 2 of the inflationary shock. Ghana's import bills are silently exploding. Every single commodity — from fuel to fertilizer to plastic packaging — has become more expensive. The Bank of Ghana must hold an emergency Monetary Policy Committee meeting and communicate clearly about what this means for Ghanaian household costs before market speculation triggers panic buying.