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...
The Philippines is facing an inflationary shock that could spill over to slower economic growth, potential job losses, and more capital market outflows amid a prolonged Middle East conflict, according to the World Bank. The global oil price and supply shock wrought by the war in Iran would “raise...
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...
If the war in the Middle East prolongs and global oil prices continue to skyrocket, the Philippine peso could breach the ₱61:$1 level in the second quarter of 2026 and even hit as low as ₱62 to ₱64 against the United States (US) dollar. “Our base case forecasts for the US dollar-Philippine...
Senate President Pro Tempore Panfilo "Ping" Lacson wants to give credit where credit is due. Lacson has hailed Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro for working out the safe passage of Philippine-flagged vessels, energy shipments, and Filipino seafarers through the Strait...
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...
LONDON (AP) — Britain accused Iran on Thursday of holding the world 's economy hostage as diplomats from more than 40 countries held talks on ways to press Tehran to reopen the Strait of Hormuz, a vital oil route that has been choked off by the U.S.-Israeli war against Iran. The U.S. didn...
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...
Iran has assured the Philippines that it will allow the safe, unhindered, and expedited passage of Philippine vessels, energy sources, and Filipino seafarers through the Strait of Hormuz, the Department of Foreign Affairs (DFA) bared. Iran 's assurance was made during a "productive phone...
Philippine officials on Wednesday, April 1, sat down with Iran 's top diplomat in Manila as the government sought unrestricted passage of tankers carrying oil for the country through the Strait of Hormuz. Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro and Department of Energy...
