While President Marcos believes the two-week ceasefire deal between the United States and Iran may not be enough to lower the prices of oil, the country will maximize it to increase its supply. "So, we will take full advantage of the two weeks to increase our supply as much as possible and to...
Executive Secretary Ralph Recto expressed hopes that the oil diplomacy the Philippines is pursuing amid the Iran-US conflict would not only replenish the country 's stocks, but build it up. Recto stated this during a meeting with business groups and executives of petroleum companies on...
TEHRAN, Iran (AP) — U.S. President Donald Trump pulled back on his threats to launch devastating strikes on Iran late Tuesday, swerving to deescalate the war less than two hours before the deadline he set for Tehran to capitulate or else a “whole civilization will die.” Trump said he...
The Department of Foreign Affairs (DFA) on Tuesday, April 7, confirmed the death of a Filipina national who was killed in a missile attack on a residential area in Haifa, Israel, over the weekend. In an official statement, the DFA said the Filipina died alongside her Israeli husband and elderly...
NEW YORK (AP) — The U.S. stock market is making only hesitant moves Monday, while oil prices are flip-flopping as mediators try to forge a ceasefire agreement ahead of a deadline that President Donald Trump has set to bomb Iranian power plants. The S&P 500 rose 0.2% in early trading, coming off...
Malacañang has clarified that the government’s efforts to secure safe passage for Philippine vessels through the Strait of Hormuz are aimed at ensuring a steady fuel supply, not immediately lowering oil prices. Presidential Communications Office (PCO) Undersecretary Claire Castro said this after...
DUBAI, United Arab Emirates (AP) — Israel and the United States carried a wave of attacks Monday that killed more than 25 people in Iran. Tehran responded with missile fire on Israel and its Gulf Arab neighbors as U.S. President Donald Trump’s deadline for Tehran to reopen the Strait of Hormuz...
TEL AVIV, Israel (AP) — U.S. President Donald Trump warned Iran to open the crucial Strait of Hormuz by his Monday deadline and Tehran called his threat "unbalanced and foolish." The search for a missing U.S. military pilot continued Saturday in a remote part of the Islamic Republic. Trump has...
Renewed Houthi attacks in the Red Sea are seen aggravating oil price- and supply-driven inflation pressures in the Philippines stemming from the ongoing war in the Middle East. “While the direct effect of renewed strikes on shipping in the Red Sea on aggregate world trade is likely to be limited,...
Iran is not imposing any "toll fees" on Philippine-flagged oil vessels passing through the Strait of Hormuz following Tehran 's assurance of their unhampered passage. "On question regarding the reported toll fee, there is no toll fee," the Department of Foreign Affairs (DFA) said after...
Senator Sherwin Gatchalian on Thursday, April 2 lauded the government for securing a “safe passage” deal with Iran, saying it is a major win for the country which is still reeling from the impact of the oil crisis due to the ongoing conflict in the Middle East. Gatchalian, chairman of the...
WASHINGTON (AP) — President Donald Trump used his first major address since launching his war in Iran to assure Americans that all of his military objectives will be completed "shortly" and urge an increasingly skeptical electorate to give him a little bit more time. Trump in his Wednesday...
