Oil at $116 — Iran's Gas Field Strikes Trigger Catastrophic Market Spiral

Israeli strikes directly targeting Iran's South Pars gas facility have sent Brent crude surging to between $110-$116 per barrel. US PPI accelerated to 3.4% annually. Fed Chair Powell: "There is effectively zero net job creation in the private sector." Global markets tanked — S&P 500 fell, European indexes declined sharply. The US Fed held rates at 3.5%-3.75% amid the chaos.

Oil at $116 is a domestic emergency for Ghana. Every pump price increase triggers a chain reaction across all goods and services. The NPA must immediately convene an emergency session with the Finance Ministry to explore fuel subsidization options, buffer stock releases, and strategic communication to prevent panic buying.