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Iran targets ships, airports, and oil facilities as fears grow over global energy supply

EDGARDO HERNAL
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Iran targets ships, airports, and oil facilities as fears grow over global energy supply

DUBAI, United Arab Emirates — Iran launched a series of attacks across the Persian Gulf on Wednesday, striking commercial ships, targeting Dubai International Airport, and threatening financial institutions in the Middle East as tensions from the ongoing conflict with the United States and Israel intensified and global energy markets braced for further disruption.

Two Iranian drones struck near Dubai International Airport, the hub for the long-haul carrier Emirates and the world’s busiest airport for international travel. Four people were reported wounded in the incident, though operations at the airport continued without major interruption, according to the Dubai Media Office.

Iran’s joint military command also announced plans to begin targeting banks and financial institutions across the Middle East, a move that could place financial hubs such as Dubai in the United Arab Emirates, as well as Saudi Arabia and Bahrain, at heightened risk.

Earlier Wednesday, a projectile struck a Thai cargo ship in the Strait of Hormuz off the coast of Oman, igniting a fire onboard. Authorities are searching for three missing crew members from the vessel Mayuree Naree after 20 others were rescued by the Omani navy, according to Thailand’s Marine Department.

The attacks have effectively halted cargo traffic in the narrow Strait of Hormuz, a vital maritime passage through which roughly one-fifth of the world’s oil supply is transported. Iran has also reportedly targeted oil fields and refineries in Gulf Arab states, an effort analysts say is designed to inflict economic pressure on global markets and compel the United States and Israel to halt their ongoing airstrikes.

The escalating conflict has triggered diplomatic action at the United Nations. The U.N. Security Council was scheduled to vote Wednesday on a resolution sponsored by the Gulf Cooperation Council calling on Iran to stop attacks on its Arab neighbors.

Meanwhile, witnesses reported continuous airstrikes hitting Tehran after Israel said it had renewed its military operations against Iranian targets. Explosions were also reported in Beirut and southern Lebanon, where Israel said it was striking sites linked to Hezbollah, the Iran-backed militant group.

One attack in central Beirut set a building ablaze in the densely populated Aicha Bakkar district, with flames engulfing the top two floors. Lebanon’s Health Ministry reported four people wounded in the incident.

Additional Israeli strikes in southern and eastern Lebanon killed 14 people, while a Red Cross worker died Wednesday from injuries sustained earlier in the week when his rescue team was hit during an Israeli strike. According to Lebanon’s Health Ministry, at least 570 people have been killed in the country since the latest round of fighting began.

Hezbollah has launched rockets toward Israel following the broader conflict triggered by surprise airstrikes on Iran by the United States and Israel. Air raid sirens sounded in Tel Aviv and other Israeli cities amid warnings of Iranian attacks, though no immediate casualties were reported.

Saudi Arabia said its air defenses intercepted six ballistic missiles aimed at Prince Sultan Air Base, a major facility jointly operated by U.S. and Saudi forces. Two drones were also intercepted over the eastern city of Hafar al-Batin.

Maritime security incidents also continued in regional waters. The United Kingdom Maritime Trade Operations center reported an attack on a container ship near the United Arab Emirates, with the extent of damage still under investigation. Another vessel in the Persian Gulf was reportedly struck by a projectile, though its crew was confirmed safe.

The maritime attacks followed intense U.S. airstrikes on Tuesday targeting Iranian naval assets and the strategic port city of Bandar Abbas.

Iran’s warning against financial institutions came shortly after an attack on a Tehran branch of Bank Sepah, a state-owned bank sanctioned by the United States for allegedly financing Iran’s armed forces. The strike killed several staff members, according to the state-run IRNA news agency.

Diplomatic pressure continues to mount. A draft resolution circulating at the United Nations condemns Iranian attacks on Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Jordan, and calls for an immediate halt to all strikes and threats against neighboring states, including those carried out through allied militant groups.

If adopted, it would be the first Security Council resolution considered since the conflict began on Feb. 28.

Global energy markets are already reacting. While oil prices retreated slightly from earlier peaks, Brent crude — the international benchmark — remained about 20 percent higher Wednesday than when the conflict began.

Several countries have begun tapping emergency reserves to stabilize supply. Germany and Austria announced plans to release portions of their oil reserves following a request from the International Energy Agency for member nations to collectively release 400 million barrels of crude to ease price pressures.

The largest previous coordinated release by IEA member states occurred in 2022 after Russia’s full-scale invasion of Ukraine, when 182.7 million barrels were released from strategic reserves.

Japan also announced it would begin releasing part of its reserves starting Monday.

Military tensions around the Strait of Hormuz remain high. The U.S. military said Tuesday it destroyed 16 Iranian minelayers near the strait, though U.S. President Donald Trump said there were no confirmed reports that Iran had mined the crucial shipping route.

Security analysts warn that if mines were deployed in the strait, clearing them could take weeks even after hostilities end.

Shipping traffic through the passage has sharply declined. Security firm Neptune P2P Group reported that only seven ships have passed through the strait since March 8, compared with the typical daily traffic of more than 100 vessels. Of the seven ships, five were reportedly linked to Iranian-associated shipping.

Some vessels have been conducting so-called “dark transits,” turning off their Automatic Identification System trackers to conceal their movements — a practice often used by tankers carrying sanctioned Iranian crude.

Commodity-tracking firm Kpler also reported that Iran has resumed crude exports through its Jask oil terminal on the Gulf of Oman. One tanker reportedly loaded about two million barrels of oil at the terminal on March 7.

Meanwhile, concerns are growing about the health of Iran’s newly installed Supreme Leader, Ayatollah Mojtaba Khamenei, following reports that he may have been injured. The 56-year-old leader, who assumed the role earlier this week after the death of his father, Ayatollah Ali Khamenei, has not been seen publicly since Monday. His father and wife were reportedly killed in an Israeli airstrike during the first day of the conflict.

Casualties continue to rise across the region. In addition to the 570 deaths reported in Lebanon, Iranian authorities say more than 1,300 people have been killed inside Iran. Israel has reported 12 fatalities, while the United States confirmed that seven of its soldiers have been killed and eight others severely wounded since the fighting began.

US‑Iran war update: Escalating conflict raises global energy and security concerns

Venus L Peñaflor
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US‑Iran war update: Escalating conflict raises global energy and security concerns

The military conflict involving the United States and Iran has intensified further, with both sides escalating military operations while the global community grows increasingly concerned about the conflict’s impact on energy supply and regional stability.

U.S. defense officials confirmed that American forces have launched what could be the most intense wave of airstrikes yet against Iranian military infrastructure. According to the Pentagon, thousands of targets—including missile sites, naval assets and weapons facilities—have been struck as part of the ongoing campaign aimed at weakening Iran’s military capabilities.

U.S. officials said the strikes have significantly reduced Iran’s ability to launch missiles and drones, though Tehran continues to mount retaliatory attacks against U.S. interests and allied facilities across the region. The conflict, which began with coordinated U.S. and Israeli strikes on Iranian targets, has now entered a more dangerous phase as both sides show no immediate signs of de-escalation.

The fighting has also threatened one of the world’s most critical oil routes, the Strait of Hormuz, where roughly a fifth of global oil and liquefied natural gas shipments normally pass. Recent military activity and security risks have disrupted shipping traffic in the narrow waterway, prompting fears of a global energy crisis.

Energy industry leaders have warned that a prolonged disruption in the strait could have severe consequences for global oil markets. Oil supplies from the Persian Gulf have already been affected, forcing producers to rely on alternative routes and stored reserves to maintain exports.

In response to concerns that Iran might attempt to mine the strategic waterway, the U.S. military reported destroying several Iranian vessels believed to be capable of laying naval mines near the strait. Washington warned that any attempt to block international shipping would trigger further military action.

Meanwhile, regional tensions continue to rise as explosions and missile interceptions have been reported in several Middle Eastern locations, highlighting the risk that the conflict could spread beyond Iran and involve additional countries.

Analysts say the escalating confrontation not only threatens regional security but could also have wide-ranging economic repercussions, particularly if disruptions in oil supply continue. Governments and international energy agencies are closely monitoring the situation amid fears that prolonged hostilities could destabilize global markets and intensify inflation pressures worldwide.

The latest developments underscore growing concerns that the conflict between the United States and Iran could evolve into a broader regional crisis, with significant geopolitical and economic consequences far beyond the Middle East.

Emergency powers para kay Pangulong Marcos inaprubahan ng House panel

Carlo Juancho Funtanilla
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Emergency powers para kay Pangulong Marcos inaprubahan ng House panel

MAYNILA — Inaprubahan ng House Committee on Ways and Means ang isang substitute bill na naglalayong bigyan ng emergency powers si Ferdinand Marcos Jr. upang matugunan ang posibleng matinding epekto ng pagtaas ng presyo ng produktong petrolyo sa pandaigdigang merkado dulot ng krisis sa Middle East.

Sa ilalim ng panukala, papayagan ang Pangulo na pansamantalang magsuspinde o magbawas ng excise tax sa mga produktong petrolyo bilang tugon sa pagtaas ng presyo ng langis. Ang emergency powers ay ipatutupad sa loob ng anim na buwan, ngunit maaari itong paikliin o palawigin depende sa galaw ng presyo ng langis sa pandaigdigang merkado, gayundin sa magiging desisyon ng Kongreso na maaaring mag-extend ng kapangyarihan hanggang isang taon.

Nakasaad din sa panukala na maaaring magsuspinde o magbawas ng excise tax ang Pangulo kapag ang average na presyo ng Dubai Crude oil ay umabot o lumampas sa $80 kada bariles.

Pinapayagan din ang Pangulo na ipatupad ang pagbawas o suspensyon ng excise tax kung may idineklarang state of national emergency o kalamidad na magdudulot ng pambihirang pagtaas sa presyo ng petrolyo.

Ayon sa panukala, kinakailangan namang magsumite ang Pangulo, sa pamamagitan ng Secretary of Finance, ng ulat sa Kongreso sa loob ng 15 araw mula sa pagpapatupad ng hakbang. Dapat ilahad sa ulat ang naging batayan ng suspensyon o pagbawas sa excise tax, ang tinatayang mawawalang kita ng pamahalaan, at ang posibleng epekto nito sa inflation.

Sinabi ni Miro Quimbo, chairman ng komite at kinatawan ng Marikina City, na ihahain ang panukala sa plenaryo ng House of Representatives of the Philippines upang agad itong matalakay at maaprubahan.

Markets bet on a quick end to Iran war despite escalating threats

EDGARDO HERNAL
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Markets bet on a quick end to Iran war despite escalating threats

Global markets signaled confidence that the war involving Iran could end quickly, even as threats from both sides intensified and fighting on the ground continued to escalate.

Investors reacted strongly on Tuesday to statements by former U.S. President Donald Trump suggesting the conflict could conclude far sooner than initially expected. Trump indicated that the United States was “very far ahead” of his earlier estimate of a four- to five-week timeline for the war, prompting traders to scale back fears of a prolonged disruption to global oil supplies.

The shift in market sentiment came despite stark warnings from Tehran. Iran’s Islamic Revolutionary Guards Corps declared that no oil would leave the Middle East until U.S. and Israeli attacks cease, raising concerns that tanker traffic could be blocked. Trump responded with a sharp warning, saying that any attempt to obstruct oil shipments would be met with military retaliation “twenty times harder.”

Oil markets initially reacted with alarm before reversing course. Brent crude surged on Monday to nearly $120 per barrel, its highest level since mid-2022, before retreating sharply to around $92 by Tuesday morning. Trading volumes in crude futures remained relatively low, suggesting that many investors were still reassessing the risk outlook.

Equity markets in Asia and Europe also rebounded from earlier losses, reflecting a broader belief among investors that the conflict may not escalate into a prolonged disruption of energy flows. However, analysts cautioned that the apparent optimism may be premature.

Suvro Sarkar of DBS Bank noted that key Middle Eastern oil benchmarks, including Murban and Dubai crude, remain above $100 per barrel, indicating that underlying supply pressures persist despite the pullback in global benchmark prices.

While financial markets reacted to political signals, conditions on the ground remain severe. Residents in Tehran reported some of the heaviest bombardment since the conflict began, with widespread strikes across the city damaging homes and spreading fear among civilians.

“It was like hell. They were bombing everywhere, every part of Tehran… my children are afraid to sleep now. We have nowhere to go,” one resident said.

Military calculations are also shaping the pace of operations. Sources familiar with Israeli planning told Reuters that Israeli forces are operating under the assumption that Trump could halt the conflict at any moment, prompting commanders to intensify strikes on Iranian targets before any potential ceasefire takes effect.

At the same time, Iran has signaled defiance against external pressure by appointing hardliner Mojtaba Khamenei as the country’s new Supreme Leader following the death of Ali Khamenei. The move underscores Tehran’s resistance to U.S. influence over its leadership and suggests that political concessions from Iran are unlikely despite mounting military pressure.

The conflict has already disrupted shipping routes through the Strait of Hormuz, a vital artery for global oil trade. Policymakers have discussed contingency measures, including easing sanctions on Russia and releasing strategic petroleum reserves, steps that markets interpret as potential safeguards against a prolonged energy crisis.

Nevertheless, analysts say the strategic objectives of the parties involved may complicate efforts to end the war quickly. A rapid ceasefire aimed at restoring oil flows could leave Iran’s leadership intact, which contrasts with previous U.S. calls to influence Tehran’s succession. Israel, meanwhile, is widely seen as pursuing broader goals, including weakening Iran’s regional military capabilities and pushing for regime change.

The humanitarian toll of the war continues to mount. Iran’s ambassador to the United Nations reported that at least 1,332 civilians have been killed and thousands more wounded since the airstrikes began. Iranian missile and drone attacks targeting Gulf states have damaged infrastructure, forced airport closures, and disrupted tourism facilities. Israeli retaliatory strikes in Lebanon have also killed dozens amid ongoing operations against Hezbollah.

Inside Iran, the government has moved to suppress dissent following the death of Ali Khamenei. Authorities have cracked down on anti-government protests, while large rallies supporting Mojtaba Khamenei have demonstrated public mobilization behind the country’s hardline leadership.

Despite the market’s apparent confidence in a short conflict, analysts warn that the broader geopolitical picture remains uncertain. Oil prices continue to be highly sensitive to supply disruptions, and the risk of further escalation persists as military operations and political decisions unfold.

The war underscores the complex interplay between geopolitical strategy, economic stability, and human cost. A swift resolution could stabilize energy markets and ease pressure on the global economy, but it may leave several strategic objectives unresolved. Conversely, a prolonged conflict could trigger sustained oil shocks, deepen regional instability, and carry wider economic consequences reminiscent of past Middle East crises.

For now, markets appear to be responding more to political signaling than to the realities of the battlefield. Yet analysts stress that volatility is likely to continue as long as military operations, leadership decisions, and supply chain vulnerabilities remain in flux, leaving the ultimate trajectory of the conflict uncertain.

DEPDev warns of severe inflation risk as Middle East conflict escalates

Venus L Peñaflor
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DEPDev warns of severe inflation risk as Middle East conflict escalates

The Department of Economy, Planning and Development (DEPDev) warned that inflation in the Philippines could surge beyond 7 percent if the conflict involving the United States, Iran, and Israel intensifies and disrupts global oil supplies for an extended period.

During a briefing to members of the House of Representatives on Tuesday, Socioeconomic Planning Secretary Arsenio Balisacan presented two possible economic scenarios outlining the potential impact of rising oil prices on the country’s inflation outlook and broader economy.

Under the first scenario, global crude oil prices would average around $100 per barrel in March and remain above $80 per barrel until May. In the second and more severe scenario, crude oil prices could climb to an average of $140 per barrel and stay above $80 per barrel until September.

Balisacan said that under both scenarios, inflation could exceed the government’s preferred range of 2 percent to 4 percent due to higher fuel costs and rising prices of non-food and food commodities.

In the first scenario, inflation is projected to accelerate to between 4.5 percent and 5.1 percent in March before easing slightly to 4.5 percent to 4.8 percent in April. For the full year 2026, inflation would average between 4 percent and 4.2 percent before further slowing to around 3.5 percent to 3.6 percent in 2027.

Under the more severe scenario, inflation could surge to between 6.3 percent and 7.5 percent in March and remain elevated at 6.4 percent to 7.5 percent in April. Inflation for the entire year of 2026 could average between 4.5 percent and 4.8 percent before easing to 3.6 percent to 3.7 percent the following year.

Before the Middle East conflict erupted, DEPDev had already anticipated a modest rise in inflation due to base effects from the relatively low inflation environment in 2025. In its pre-conflict baseline forecast, the agency expected inflation to average 3.6 percent in 2026 and 3.2 percent in 2027.

The potential spike in oil prices could also significantly affect domestic fuel costs. Under the severe scenario, diesel prices could jump by as much as 62 percent in March, reaching about P96.76 per liter compared with the baseline estimate of P59.68 per liter.

Gasoline prices could also rise sharply, increasing by as much as 52 percent to around P88.79 per liter from a baseline projection of P58.53 per liter.

Fuel retailers this week announced substantial price increases, with gasoline expected to rise by P7.00 to P13.00 per liter, diesel by P17.50 to P24.25, and kerosene by P32.00 to P38.50.

The surge in oil prices follows the closure of the Strait of Hormuz, a critical global shipping corridor located between Iran and Oman. The waterway is considered the world’s most vital oil export route, linking major Gulf producers to the Gulf of Oman and the Arabian Sea.

Balisacan also warned that the conflict could significantly affect overseas Filipino workers (OFWs) in the Middle East, potentially leading to lower remittances if deployment bans and repatriation measures are implemented.

In the first scenario, assuming a total deployment ban and the repatriation of about 10 percent of Filipino workers from conflict-affected countries, the number of OFWs abroad could fall by an estimated 551,897. This could result in a decline in remittances of around P226.568 billion compared with 2025 levels.

Under the second scenario, in which deployment restrictions and repatriation extend to nearby countries such as Egypt, Lebanon, Palestine, Syria, and Yemen, the reduction in OFW numbers could reach about 556,883, with remittances falling by an estimated P231.777 billion.

The combined impact of higher inflation and lower remittances could weaken consumer purchasing power and slow economic growth. Balisacan said economic expansion in 2026 could decline by 0.20 percentage points under the first scenario and by 0.30 percentage points under the more severe scenario.

To mitigate these risks, Balisacan recommended several policy measures, including suspending the excise tax on fuel, implementing safety-net programs for vulnerable sectors, adopting staggered fuel price adjustments, expanding the use of low-cost bioethanol, and promoting energy conservation.

He also emphasized the need for long-term strategies to reduce the country’s reliance on imported fuel, including incentives for renewable energy development and streamlined permitting processes for potential nuclear power projects.

Earlier estimates from DEPDev showed that suspending excise taxes on fuel could lower diesel prices by about P6 per liter and gasoline prices by around P10 per liter.

On Tuesday, the House ways and means committee approved an unnumbered substitute bill that would allow the President to temporarily suspend or reduce excise taxes on fuel products as part of efforts to cushion consumers from rising oil prices.

Europe tightens security after blasts near Belgian synagogue and U.S. Embassy in Oslo

Paraluman P. Funtanilla
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Europe tightens security after blasts near Belgian synagogue and U.S. Embassy in Oslo

BRUSSELS — Authorities across Europe have heightened security after two separate explosions near a synagogue in Belgium and outside the United States Embassy in Norway, incidents that come amid rising tensions linked to the ongoing conflict in the Middle East.

In Belgium, an explosion struck near a synagogue in the eastern city of Liège early Monday morning, damaging nearby buildings but causing no injuries. Belgian Interior Minister Bernard Quintin condemned the incident as “a despicable antisemitic act” that targeted the country’s Jewish community.

Police said the blast occurred at around 4 a.m. outside the synagogue, shattering windows of the building and those of structures across the street. Authorities immediately sealed off the area while investigators examined the scene. Federal prosecutors have taken charge of the investigation due to possible indications that the incident could constitute a terrorist offense.

Belgian Prime Minister Bart De Wever and Liège Mayor Willy Demeyer also condemned the attack, describing antisemitism as an assault on the country’s democratic values. Local officials stressed that foreign conflicts should not be allowed to spill over into European communities.

Meanwhile in Norway, police are investigating a separate explosion that damaged the entrance area of the U.S. Embassy in Oslo early Sunday. The blast occurred at around 1 a.m. local time and was believed to have been caused by an improvised explosive device placed near the embassy compound. No injuries were reported.

Surveillance footage released by Norwegian authorities showed a hooded individual wearing dark clothing and carrying a backpack near the scene shortly before the explosion. Investigators are analyzing the images as they search for the suspect and determine the motive behind the attack.

Frode Larsen, head of Oslo police’s joint investigation and intelligence unit, said authorities are considering multiple possibilities, including whether the embassy was deliberately targeted. However, he stressed that investigators have not yet reached a definitive conclusion.

“We are early in the investigation, but we are working based on multiple hypotheses,” Larsen said in a statement.

Police are also examining a video uploaded to Google Maps around the time of the blast that reportedly featured Iran’s former Supreme Leader, Ali Khamenei, raising questions about whether the incident may be linked to the broader geopolitical tensions.

The twin incidents have heightened concerns among European governments, many of which have already increased security measures for Jewish institutions, diplomatic missions, and transportation infrastructure in response to the escalating conflict in the Middle East.

Belgium, France, and Germany are among the countries that have announced reinforced security at sensitive sites, even as their governments maintain that they are not directly involved in the current hostilities alongside the United States and Israel.

Authorities across the region said investigations into both explosions remain ongoing, with officials urging vigilance while emphasizing that there is currently no indication of a broader threat to the public.

DEPDev: Posibleng bumaba ng P6 – P10 kada litro ang presyo ng langis pag sinuspindi ang fuel excise tax

Carlo Juancho Funtanilla
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DEPDev: Posibleng bumaba ng P6 – P10 kada litro ang presyo ng langis pag sinuspindi ang fuel excise tax

MAYNILA — Maaaring bumaba ng hanggang P6 kada litro ang presyo ng diesel at P10 kada litro naman para sa gasolina kung ipatutupad ang suspensyon ng excise tax sa mga produktong petrolyo, ayon sa Department of Economy, Planning, and Development (DEPDev).

Inihayag ni DEPDev Undersecretary Rosemarie Edillon ang mga tinatayang pagbaba ng presyo sa isang briefing ng iba’t ibang ahensiya ng pamahalaan sa harap ng House ways and means committee nitong Lunes.

Ang hakbang ay kasabay ng pagtalakay sa hindi bababa sa limang panukalang batas na layong bigyan ng kapangyarihan si Pangulong Ferdinand Marcos Jr. na pansamantalang suspendihin o bawasan ang fuel excise tax sa panahon ng emergency situations, gaya ng patuloy na tensyon at labanan sa Middle East.

Ipinaliwanag ni Edillon na nagsagawa ang DEPDev ng simulation para sa dalawang posibleng senaryo ng galaw ng presyo ng langis sa pandaigdigang merkado.

Sa unang senaryo, inaasahang aabot sa $98 o hindi bababa sa $80 kada bariles ang average cost ng Dubai crude oil hanggang Abril. Sa ikalawang senaryo naman, itinuturing na worst-case scenario kung saan maaaring pumalo sa $140 kada bariles ang average cost ng Dubai crude oil dahil sa matagal na pagsasara ng Strait of Hormuz isang mahalagang rutang dinadaanan ng humigit-kumulang 20% ng seaborne oil trade sa buong mundo.

“We simulated the impact of an excise tax suspension. We know that for regular gasoline, its P10 pesos per liter. And then for diesel, P6 pesos per liter. With excise tax suspension under scenario 1, the average cost of diesel at P74.22 pesos per liter will go down to P67.50 per liter. And then for April, from P67.33, it could go down to P60.61,” Edillon said.

Ayon pa sa opisyal, kung ipatutupad ang suspensyon ng excise tax, posibleng bumaba ang presyo ng gasolina mula P70.20 kada litro hanggang P59 kada litro ngayong Marso sa ilalim ng unang senaryo.

Sa ikalawang senaryo naman, sinabi ni Edillon na ang average diesel price na maaaring umabot sa P96.76 kada litro sa Marso ay maaaring bumaba sa P90.04 pesos per liter kung isasagawa ang suspensyon ng buwis.

Dagdag pa niya, inaasahang bababa sa P91.19 pesos per liter ang average diesel price pagsapit ng Abril, ngunit maaari pa itong bumaba sa P84.47 kung isususpinde ang fuel excise taxes.

Para naman sa gasolina sa ilalim ng ikalawang senaryo, ang average cost na P64.59 kada litro sa Abril ay posibleng bumaba sa P53.39 per liter.

“In terms of incidence of the impact, of course, the effect on diesel users is greater on the lower income class, but there is also a spillover. Whereas, for gasoline, it’s more or less shared across. It’s almost uniform,” Edillon said.

Samantala, sinabi ng Malacañang nitong Lunes na pormal na hihiling si Pangulong Marcos sa Kongreso ng emergency powers upang mabawasan ang excise taxes sa fuel products sa gitna ng patuloy na tensyon sa Middle East.

Sa kabila nito, inaasahang haharap ang mga motorista sa panibagong malaking oil price hike ngayong Martes, ang ikasiyam na sunod na linggo ng pagtaas para sa gasolina at ika-11 linggo naman para sa diesel at kerosene.

Batay sa datos na inilabas ng Department of Energy (DOE), inaasahang magtataas ang mga retailer ng presyo ng gasolina ng P7.00 hanggang P13.00 kada litro, diesel ng P17.50 hanggang P24.25 kada litro, at kerosene ng P32.00 hanggang P38.50 kada litro.

Iran names Khamenei’s son as new supreme leader as war intensifies and oil prices surge

EDGARDO HERNAL
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Iran names Khamenei’s son as new supreme leader as war intensifies and oil prices surge

DUBAI, United Arab Emirates — Iran has appointed hard-line cleric Ayatollah Mojtaba Khamenei as the country’s new supreme leader following the death of his father, Ayatollah Ali Khamenei, signaling Tehran’s defiance as fighting with the United States and Israel intensifies across the Middle East.

The announcement was made Monday after Iran’s powerful Assembly of Experts selected the 56-year-old cleric to succeed his father, who ruled the Islamic Republic for 37 years before being killed during the opening phase of the war. The move underscores Iran’s determination to continue the conflict despite sustained U.S. and Israeli bombardment in recent days.

Mojtaba Khamenei, a secretive figure rarely seen in public, has long been viewed as a possible successor and maintains close ties with Iran’s paramilitary Revolutionary Guard. The force has been launching missiles and drones at Israel and several Gulf Arab states since the war began.

The leadership transition comes amid escalating regional tensions that have rattled global markets. Brent crude oil prices surged to nearly $120 per barrel on Monday — roughly 65 percent higher than levels before the conflict began — before easing later in the day as investors reacted to disruptions in the Middle East’s energy infrastructure.

Iranian attacks in the Strait of Hormuz have effectively halted tanker traffic through the strategic shipping route, which carries about one-fifth of the world’s oil supply. Regional energy facilities have also come under attack. Authorities reported fires at an oil installation in the United Arab Emirates, while Bahrain’s only refinery appeared to have been struck. Saudi Arabia said it intercepted several drones targeting its Shaybah oil field.

U.S. President Donald Trump sought to calm concerns over supply shortages, writing on Truth Social that there was “not an oil shortage” and predicting prices would soon fall. He also suggested that shipments from Venezuela to the United States could help offset the spike.

Meanwhile, Israel remained under continued missile and drone attacks from Iran. Air raid sirens sounded repeatedly on Monday as projectiles targeted several areas. A missile strike in central Israel killed one man and wounded a woman, marking the first reported death in Israel from such an attack in a week.

Israel said its forces carried out strikes in the Iranian city of Isfahan, targeting Revolutionary Guard command centers, facilities linked to the volunteer Basij force, a rocket engine production site and missile launch positions. Iran did not immediately confirm the attacks.

The Israeli military later announced it had launched what it described as a “wide-scale wave of strikes” targeting sites in Isfahan as well as the Iranian capital, Tehran. Witnesses reported seeing explosions in parts of the city, while additional strikes were also reported in southern Iran.

Turkey said NATO air defenses intercepted a ballistic missile that entered its airspace, marking the second such incident since the war began.

Mojtaba Khamenei has not been seen publicly since the outbreak of the conflict. His wife, Zahra Haddad Adel, was reportedly killed in the same strike that killed his father.

Within Iran, the decision to elevate the younger Khamenei has drawn criticism from some political figures who argue that transferring the supreme leadership within the same family resembles the hereditary monarchy overthrown during the 1979 Islamic Revolution. However, senior clerics within the Assembly of Experts ultimately voted to maintain continuity during the wartime crisis.

Now holding Iran’s most powerful position, Khamenei assumes control of the country’s armed forces and will oversee critical decisions regarding Iran’s nuclear program.

Although key Iranian nuclear facilities were heavily damaged during a 12-day conflict with Israel and U.S. airstrikes earlier in the year, Tehran is believed to still possess highly enriched uranium just short of weapons-grade levels — a capability that analysts say could allow the country to rapidly develop a nuclear weapon if ordered.

Israel has already described the new supreme leader as a potential military target, while Trump dismissed him as “unacceptable” and a “lightweight.”

Despite international pressure, Iran’s Revolutionary Guard and the Lebanese militant group Hezbollah both issued statements backing Mojtaba Khamenei’s leadership.

Ali Larijani, a senior Iranian security official, praised the Assembly of Experts for convening despite ongoing airstrikes in Tehran. Speaking to Iranian state television, he said the younger Khamenei had been trained by his father and “can handle this situation.”

The broader regional conflict has expanded to several countries. Iranian strikes were reported in Kuwait, Qatar and Bahrain. In Bahrain, authorities said a residential area was hit, wounding 32 people including several children, while another attack appeared to ignite a fire at the country’s sole oil refinery.

Bahraini officials also accused Iran of damaging a desalination plant, though authorities said water and electricity services remained operational. Such facilities provide essential drinking water to millions across the arid Gulf region, raising concerns about potential humanitarian consequences if the infrastructure is severely damaged.

In the United Arab Emirates, officials reported that two people were injured by shrapnel after missile interceptions over Abu Dhabi. The Emirati Defense Ministry said 15 ballistic missiles and 18 drones were launched toward the country on Monday alone. Since the war began, the UAE says it has faced 253 missiles and 1,440 drones, resulting in four deaths and 117 injuries.

In Iraq, air defense systems intercepted a drone targeting a U.S. military compound inside Baghdad International Airport. A security official told The Associated Press that no injuries or damage were reported. Iran-backed militias have previously carried out attacks on the base.

The U.S. military also confirmed that an American service member died from injuries sustained during an Iranian attack on troops stationed in Saudi Arabia on March 1, bringing the total number of U.S. soldiers killed in the conflict to seven.

Amid the rising violence, the U.S. State Department ordered nonessential personnel and family members to leave Saudi Arabia. Similar evacuations have been initiated at several American diplomatic missions across the region, including Bahrain, Iraq, Jordan, Kuwait, Lebanon, Qatar and the United Arab Emirates, as well as U.S. consulates in Karachi, Pakistan, and Adana, Turkey.

Israel has also expanded its operations in Lebanon. Smoke was seen rising over Beirut after Israeli airstrikes targeted the city’s southern suburbs. The Israeli military said the strikes focused on facilities associated with al-Qard Al-Hasan, a financial institution it claims supports Hezbollah. Residents of the area were warned to evacuate ahead of the attacks.

According to officials, the war has already killed at least 1,230 people in Iran, 397 in Lebanon and 11 in Israel. One additional person in Israel died from an asthma attack while heading to a shelter during an air raid.

Israel also reported its first soldier fatalities in the conflict on Sunday, saying two troops were killed in fighting with Hezbollah in southern Lebanon as the war continues to widen across the region.

Waste mound collapse at Indonesia’s largest landfill kills at least five, several missing

Venus L Peñaflor
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Waste mound collapse at Indonesia’s largest landfill kills at least five, several missing

JAKARTA, Indonesia — At least five people were killed and several others remain missing after a massive mound of garbage collapsed at Indonesia’s largest landfill following heavy overnight rains, authorities said Monday.

The collapse occurred at the Bantargebang Integrated Waste Treatment Facility in Bekasi, a city just outside the Indonesian capital of Jakarta. More than 300 search-and-rescue personnel were deployed to the sprawling landfill late Sunday, using heavy equipment and sniffer dogs to locate possible survivors beneath the debris.

Rescue operations were being carried out cautiously due to unstable heaps of waste that could shift further, according to Desiana Kartika Bahari, head of Jakarta’s Search and Rescue Office.

Bahari said the victims included two garbage truck drivers and two food stall vendors who were working or resting near the landfill when the collapse occurred. Four people were able to escape the incident.

Rescuers, including police officers, soldiers and volunteers, were continuing their search for at least three people who were reported missing.

“We had not ruled out the possibility of more victims,” Bahari said. “We are still gathering data to confirm how many vehicles and workers were caught beneath the debris.”

Images released by Indonesia’s National Search and Rescue Agency showed excavators digging through the massive garbage pile, where several trucks and small food stalls were buried under the collapsed waste.

Authorities also warned rescuers to remain vigilant as weather conditions could further complicate recovery efforts.

Abdul Muhari, spokesperson of the National Disaster Management Agency, urged strict safety protocols during the operation. He said weather forecasts indicate possible rainfall across Jakarta and nearby satellite cities over the next two days, raising concerns that the unstable waste mound could shift again and endanger rescue teams.

The incident has renewed scrutiny of the Bantargebang landfill, a key waste facility that receives the majority of household garbage from the Greater Jakarta area. The site has long faced concerns over its capacity and safety as the capital’s population continues to grow.

Indonesia has been exploring reforms to address long-standing waste management issues. Late last year, the government announced a two-year deadline to significantly reduce the waste volume at Bantargebang through an accelerated waste-to-energy program.

The initiative, supported by a new presidential regulation aimed at streamlining permits and attracting investment, seeks to convert waste into electrical or thermal energy in order to lessen the country’s heavy reliance on open dumping.

Similar landfill disasters have occurred in Southeast Asia. In January, a garbage dump collapse in the Philippines buried workers in low-lying buildings at a landfill site, killing at least four people, injuring a dozen and leaving more than 30 others missing.

Indonesia itself has experienced major landfill tragedies in the past. In 2005, at least 31 people were killed and dozens more were reported missing after a seven-meter-high mound of garbage collapsed following heavy rains, triggering a landslide that buried or damaged 60 homes in two villages near the city of Bandung in West Java.

Crude oil prices top $100 a barrel as Middle East conflict disrupts supply; Philippine pump prices climb

EDGARDO HERNAL
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Crude oil prices top $100 a barrel as Middle East conflict disrupts supply; Philippine pump prices climb

CHICAGO/MANILA — Global crude oil prices surged past $100 per barrel, the highest level in years, as the ongoing conflict involving Iran has hindered oil production and disrupted shipping routes in the Middle East, pushing international benchmarks sharply higher. The rise in global oil costs is now filtering down to local pump prices in the Philippines, where motorists are already feeling the impact.

On the Chicago Mercantile Exchange, Brent crude, the international price standard, climbed to around $101.19 per barrel, while West Texas Intermediate (WTI), the U.S. benchmark, reached about $107.06 per barrel, reflecting heightened market volatility driven by geopolitical risk and concerns over supply constraints. This marks the first sustained breach of the $100‑a‑barrel threshold in more than three and a half years. Analysts warn that prices could remain volatile as trading continues.

The spike in oil prices has global repercussions: an estimated 20 percent of the world’s crude typically transits the Strait of Hormuz daily — a key energy corridor bordering Iran — before the current conflict sharply curtailed tanker movements and export capacity. Production cuts by countries such as Iraq, Kuwait and the United Arab Emirates, coupled with recent attacks on oil infrastructure in the region, have exacerbated supply concerns and contributed to price pressures.

The Philippines, a net importer of oil and heavily dependent on imported fuel, has experienced a series of notable pump price increases in recent weeks amid these global dynamics. According to local industry price trackers, as of March 8, 2026, prevailing retail prices in Metro Manila ranged around ₱62.55 per liter for gasoline and approximately ₱56.74 per liter for diesel, though figures vary by station and fuel grade. Premium gasoline (RON 100) was averaging near ₱67.99 per liter, while higher‑grade diesel products were selling at slightly elevated rates.

Local energy officials have signaled that a significant fuel price hike may be imminent. Forecasts from the Department of Energy’s Oil Industry Management Bureau suggest possible increases of up to ₱19 per liter for diesel and ₱9 per liter for gasoline in the coming week as markets react to sustained crude cost pressures. These projected adjustments could push diesel toward ₱90 per liter territory and gasoline toward the ₱80 range in some regions should oil benchmarks remain elevated.

The continuous climb in global energy prices has broader economic implications beyond cost at the pump. Higher fuel costs can contribute to inflationary pressures, raising transportation and logistics expenses, and potentially squeezing household budgets. Local consumers and businesses alike are bracing for further price movements as market conditions evolve.

Economic policymakers in the Philippines are monitoring the situation and considering possible measures to mitigate the impact on consumers, including discussions about fuel subsidies and regulatory interventions to manage volatility, though no formal decisions have been announced.

With crude oil now trading well above the $100 threshold and geopolitical tensions intensifying, analysts caution that global markets and domestic fuel prices may remain under upward pressure in the weeks ahead as supply concerns continue to mount.

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