Iran Reimposed Hormuz Restrictions — Markets Plunge Globally

Just as analysts dared to suggest the Middle East conflict was de-escalating, Iran executed a devastating geopolitical reversal: reimposing formal navigation restrictions through the Strait of Hormuz. The move wiped billions from global equity markets within hours and has officially reignited the stagflation debate. The seven-week conflict is now categorised by the IMF as the most acute supply-side inflation shock since 1979.

For Ghana, this is the most dangerous signal of the week. The government's emergency fuel relief — achieved just two days ago — is now under immense pressure. If Hormuz restrictions translate into another surge in crude prices (which is near-certain), the subsidy relief will be wiped out in days. Ghana imports virtually all of its refined petroleum; the lag from global price shock to local pump price is now measured in weeks, not months.