Duncan Amoah warns Strait of Hormuz blockage spikes oil prices

A blocked Strait of Hormuz has already jacked crude oil prices past $91 a barrel, up from around $67-$69 just a day earlier.

Hormuz shutdown details

• Duncan Amoah confirmed the strait is fully blocked right at this moment.
• Iran, Russia, and China have their naval assets parked there.
• U.S. forces are reportedly heading toward that same corridor.
• Zero oil shipments have gotten through since that morning.

Global supply fallout

• Roughly 22% of the worldwide crude flow just stopped moving.
• Stockpiles across Europe, the U.S., and Asia face steeper premiums.
• Amoah warned that nobody sitting on oil will let it go cheaply.

What this means for Ghana

• Ghana's petroleum market could catch serious heat from this.
• Amoah called the whole situation fluid and not looking kind.