Saturday, June 20, 2026


Your Daily News Update About CALABARZON and Beyond.
ISSN 2799-1911

Home Blog Page 45

U.S. offers up to $10 million for information on top Iranian officials

Venus L Peñaflor
-
0
U.S. offers up to $10 million for information on top Iranian officials

The United States has announced a reward of up to $10 million for information on Iran’s newly installed supreme leader and several senior figures linked to the country’s powerful Islamic Revolutionary Guard Corps (IRGC), in what Washington describes as part of its efforts to counter Iranian security operations.

The reward was issued through the U.S. Department of State under its Rewards for Justice Program, which seeks public information that could help identify, locate, or disrupt the activities of individuals accused of involvement in terrorism or security threats.

At the center of the announcement is Mojtaba Khamenei, who recently emerged as Iran’s new supreme leader following the death of his father, Ali Khamenei, during joint U.S.-Israeli strikes earlier in the conflict that erupted in late February. Reports indicate that Mojtaba Khamenei may have been injured during the attacks and has not appeared publicly since, aside from issuing a written statement.

The U.S. government said the reward also applies to several senior Iranian officials and security figures believed to be connected to the Islamic Revolutionary Guard Corps. Washington designated the IRGC as a foreign terrorist organization in 2019, citing its involvement in regional militant activities and support for allied armed groups.

Among those listed in the reward announcement are Ali Asghar Hejazi, a longtime deputy chief of staff to Iran’s supreme leader, and Ali Larijani. Other individuals reportedly included on the list are Iran’s intelligence and interior ministers, as well as several IRGC commanders.

A banner released by the State Department’s Diplomatic Security Service circulated images and names of the targeted figures, urging potential informants to provide information through secure communication channels. Individuals who supply credible intelligence may also be eligible for relocation assistance or other forms of protection.

Officials said the reward offer forms part of broader U.S. efforts to gather intelligence on Iran’s leadership and security apparatus amid escalating tensions in the region. The initiative also mirrors past reward campaigns targeting high-profile militant leaders and cyber actors linked to Iranian operations.

Iran has rejected U.S. accusations that its security officials are involved in terrorism, accusing Washington of using such measures to justify sanctions and political pressure against the country.

The announcement comes at a time of heightened confrontation between the United States and Iran, with ongoing military operations, regional missile exchanges, and growing geopolitical tensions across the Middle East.

U.S. strikes military sites on Iran’s Kharg Island as Middle East war escalates

Venus L Peñaflor
-
0
U.S. strikes military sites on Iran’s Kharg Island as Middle East war escalates

DUBAI, United Arab Emirates — The United States has carried out airstrikes on military targets on Iran’s strategic Kharg Island, intensifying hostilities in the region as the war involving Iran continues to spread across the Middle East.

Donald Trump said U.S. forces struck military installations on the island on Friday, describing the operation as having “obliterated” its targets. Kharg Island is home to Iran’s primary oil export terminal and plays a crucial role in the country’s energy industry.

In a social media post, Trump said the strikes deliberately avoided Iran’s oil facilities for now but warned that the country’s petroleum infrastructure could become a target if Iran disrupts shipping routes through the Strait of Hormuz, a vital passage that carries roughly one-fifth of the world’s traded oil.

The escalation came as Iran has effectively closed the strait amid ongoing missile and drone attacks targeting Israel and neighboring Gulf states.

Meanwhile, an American defense official said about 2,500 additional Marines and an amphibious assault ship are being deployed to the region as fighting approaches its second week. Elements of the 31st Marine Expeditionary Unit and the amphibious assault ship USS Tripoli have been ordered to the Middle East.

Marine Expeditionary Units are designed for rapid-response missions, including embassy security, civilian evacuations, and humanitarian assistance. The official stressed that the deployment does not necessarily signal an imminent ground invasion.

Satellite imagery shows the USS Tripoli sailing alone near Taiwan earlier this week, indicating it could take more than a week to reach waters near Iran.

Earlier in the week, the U.S. Navy already had a major presence in the region, including the aircraft carrier USS Abraham Lincoln and eight destroyers operating in the Arabian Sea.

Explosion rocks Tehran rally

Inside Iran, tensions escalated further after a large explosion struck the Ferdowsi Square in Tehran during a massive rally marking Quds Day. Thousands had gathered at the state-organized event, which typically features chants against Israel and the United States.

Israel had warned shortly before the blast that the area could be targeted. However, Iran’s near-total internet shutdown meant many residents likely did not see the warning.

There were no immediate reports of casualties. Iranian judiciary chief Gholamhossein Mohseni Ejei was present at the rally and continued an interview with state television despite the explosion. Surrounded by bodyguards, he declared that Iran “under this rain of missiles will never withdraw.”

Israeli strikes expand across Iran

The Israeli military said its forces struck more than 200 targets across Iran within 24 hours, including missile launchers, air defense systems, and weapons production sites.

In Washington, Pete Hegseth said more than 15,000 enemy targets have been hit since the conflict began, averaging over 1,000 strikes per day.

The growing confrontation has also intensified the humanitarian crisis in Lebanon. According to the Lebanese Health Ministry, Israeli airstrikes targeting Iran-backed Hezbollah have killed at least 773 people, including more than 100 children and 18 paramedics, since fighting erupted 10 days ago. Nearly 850,000 residents have been displaced.

An Israeli strike on a health care center in the village of Burj Qalaouiyah killed 12 medical workers early Saturday, while another strike in the coastal city of Sidon earlier killed at least eight people.

Regional attacks and U.S. losses

Iran has continued to launch attacks across the Gulf region. In Oman, two people were killed after drones crashed in the Sohar region, according to the Oman News Agency.

A U.S. official said the Navy destroyer USS Oscar Austin intercepted an Iranian ballistic missile over Turkey on Friday. It marked the third such interception over the NATO member country in the past two weeks.

The U.S. military also confirmed that all six crew members aboard a Boeing KC‑135 Stratotanker were killed when the aircraft crashed in Iraq. The incident raised the U.S. death toll in the conflict to at least 13 service members.

Mike DeWine said three of the victims were members of the Ohio Air National Guard’s 121st Air Refueling Wing.

U.S. Central Command said the crash was not caused by hostile or friendly fire and involved two aircraft, one of which landed safely.

Uncertain end to the conflict

In an interview with Fox News, Trump suggested the war could end once he personally determines the situation has stabilized.

“When I feel it in my bones,” he said.

The former president also expressed skepticism that Iranians could overthrow the country’s ruling system without weapons, citing the powerful paramilitary Basij, which has historically suppressed anti-government protests.

Despite diplomatic pressure and mounting casualties, the war shows little sign of easing, with military operations continuing across Iran, Israel, and neighboring countries while global markets remain on edge over the potential disruption of oil supplies.

Iran tells world ‘get ready for US$200 a barrel’

Venus L Peñaflor
-
0
Iran tells world ‘get ready for US$200 a barrel’

DUBAI/TEL AVIV — Iran’s military command warned on Wednesday that global oil prices could surge to as high as US$200 per barrel as attacks on ships in the Gulf and continued fighting across the Middle East threaten one of the world’s most critical energy corridors.

The warning came after three additional merchant vessels were struck by projectiles in the blockaded Gulf, raising the number of ships reportedly hit since the conflict began to 14, according to maritime security monitoring agencies.

Iran’s military spokesperson, Ebrahim Zolfaqari, said escalating tensions and instability in the region could drive energy prices sharply higher. “Get ready for oil be US$200 a barrel, because the oil price depends on regional security which you have destabilised,” Zolfaqari said, addressing the United States.

The remarks came as the war between Iran, the United States, and Israel continued to intensify nearly two weeks after large-scale airstrikes began on Feb. 28. Despite heavy bombardment described by the Pentagon as the most intense strikes yet against Iran, Tehran demonstrated it still retains the ability to retaliate and disrupt energy supplies across the region.

At the center of global concern is the Strait of Hormuz, the narrow waterway along Iran’s coast through which roughly one-fifth of the world’s oil supply normally passes. Shipping through the passage has effectively been halted, marking the most severe disruption to global energy flows since the oil shocks of the 1970s.

Although oil prices briefly spiked to nearly US$120 per barrel earlier this week, they later eased to around US$90, reflecting investor expectations that U.S. President Donald Trump may seek a rapid end to the conflict he launched alongside Israel.

However, fighting on the ground and at sea has shown no signs of easing. Iran continued missile and drone attacks on regional targets while airstrikes and missile exchanges were reported across several countries.

In one of the latest incidents at sea, crews were evacuated from a Thai-flagged bulk carrier after an explosion triggered a fire on board. A Japan-flagged container ship and a Marshall Islands-flagged bulk carrier were also damaged in separate attacks.

The conflict has also extended to financial and civilian infrastructure. After offices of a bank in Tehran were hit overnight, Zolfaqari warned that Iran could retaliate by targeting banks that conduct business with the United States or Israel. He advised civilians to remain at least 1,000 meters away from bank buildings across the region.

Meanwhile, Israeli officials acknowledged privately that Iran’s governing system could survive the war despite the ongoing military campaign, according to a senior Israeli official cited by Reuters. Other Israeli officials said there was no indication that Washington was close to ending the conflict.

Inside Iran, massive funeral processions were held Wednesday for top military commanders killed in recent airstrikes. Large crowds carried coffins and waved flags and portraits of former Supreme Leader Ayatollah Ali Khamenei and his son and successor, Mojtaba Khamenei.

An Iranian official told Reuters that Mojtaba Khamenei was lightly injured early in the war during an airstrike that reportedly killed his father, mother, wife and one of his sons. The 56-year-old leader has not appeared in public or issued a direct statement since the conflict began.

Iran’s military also said it had launched missile strikes on a U.S. base in northern Iraq, the U.S. naval headquarters for the Middle East in Bahrain, and targets in central Israel. Explosions were reported in Bahrain, while two drones crashed near Dubai International Airport, injuring four people.

Residents in Tehran described adapting to frequent nightly airstrikes that have driven hundreds of thousands of people out of the capital while smoke from burning oil facilities has reportedly polluted the air.

“There were bombings last night but I did not get scared like before. Life goes on,” said Farshid, a 52-year-old resident who spoke to Reuters by phone.

Amid the escalating crisis, governments are weighing emergency measures to stabilize global energy markets. The International Energy Agency is expected to recommend releasing 400 million barrels of oil from strategic reserves worldwide — a record amount — though analysts note the supply would only equal about three weeks of normal shipments through the Strait of Hormuz.

U.S. and Israeli officials say their objective is to eliminate Iran’s ability to project military force beyond its borders and dismantle its nuclear program. At the same time, both countries have encouraged Iranians to challenge the nation’s clerical leadership.

Israeli Defense Minister Israel Katz said the military operation would continue indefinitely.

“The operation will continue without any time limit, as long as required, until we achieve all objectives and win the campaign,” Katz said Wednesday.

Iran has responded by declaring that it will not allow oil shipments through the Strait of Hormuz until U.S. and Israeli attacks cease, and that it will not enter negotiations under current conditions. President Trump has warned that the United States would strike Iran “twenty times harder” if the blockade continues, though Washington has not publicly detailed any plan to reopen the strait.

Elsewhere in the region, Israel launched new strikes on Beirut targeting the Iran-backed militant group Hezbollah, which has been firing rockets into Israel in support of Tehran.

The human toll of the conflict continues to rise. Iran’s ambassador to the United Nations, Amir Saeid Iravani, said more than 1,300 Iranian civilians have been killed since the airstrikes began. Israeli attacks in Lebanon have also left dozens dead.

Iranian missile strikes on Israel have killed at least 11 people, while two Israeli soldiers have died in fighting in Lebanon. The United States said seven of its soldiers have been killed and around 140 others wounded since the start of the conflict.

With reports from Reuters

TAOxArtCircle10: Laguna artists unite for culture, community, and compassion

Venus L Peñaflor
-
0
TAOxArtCircle10: Laguna artists unite for culture, community, and compassion

STA. CRUZ, Laguna — TAOxArtCircle10, a vibrant collective of ten visual artists from across Laguna, is making waves in the local art scene by combining creativity with social advocacy. Founded by Maestro Tom Alvarado and co-headed by Maestra Catherine Lizo-Hernandez, the group brings together talented painters, mixed-media artists, and contemporary storytellers from various municipalities in the province.

The name TAOxArtCircle10 embodies both the Filipino word tao (human) and the strength of artistic collaboration, reflecting the idea that individual creativity becomes more powerful when shared for a common purpose. Through exhibitions, cultural events, and outreach initiatives, the collective aims to promote Laguna as a hub of artistic excellence while fostering camaraderie among local artists. The members of TAOxArtCircle10, including Alvarado, Lizo-Hernandez, Eva Correa Simon, Ameer Catindihan, Nathaniel Lucido Umal, Bayan Ray Basa Acala, Joey Jacobe, Jojie Yasto Arroyo, Zeus Tope, Angeline Rosales, Marpolo Cabrera, and Jowel Legaspi Banto, each contribute a distinct voice and style, blending technical mastery with contemporary storytelling to showcase the province’s rich artistic diversity.

In celebration of the ANILAG Festival 2026, TAOxArtCircle10 presents “AKAY ni SOL: Likha Para sa Kapwa,” an exhibition that highlights art as a vehicle for compassion and community support. The show brings together works from all ten artists, each expressing individual journeys while collectively promoting bayanihan, empathy, and solidarity. The exhibit runs from March 13 to March 26, 2026, at the Laguna Provincial Capitol Main Lobby, with the formal opening on March 13 at 10:00 AM. Through this initiative, the collective aims to inspire audiences to see art not just as a visual experience but as a means to uplift communities and contribute to meaningful causes.

As founder and head of TAOxArtCircle10, Maestro Tom Alvarado is widely respected for his artistic skill and commitment to mentoring emerging artists. He envisions art as a catalyst for social transformation, advocating projects that foster collaboration, cultural pride, and community engagement. Alvarado believes that art should be experienced, shared, and used to uplift others, a philosophy reflected in “AKAY ni SOL: Likha Para sa Kapwa.” His leadership has helped the collective participate in exhibitions and cultural initiatives that celebrate Laguna’s identity while supporting social causes, making him a cornerstone of the province’s artistic landscape.

Through TAOxArtCircle10, Alvarado and his fellow artists continue to demonstrate that creativity, when united with purpose, can bridge communities, celebrate heritage, and inspire positive change.

In celebration of the ANILAG Festival 2026, TAOxArtCircle10 presents “AKAY ni SOL: Likha Para sa Kapwa,” an exhibition that highlights art as a vehicle for compassion and community support.

House bill na magbibigay kay Marcos ng kapangyarihang suspindihin ang excise tax, aprubado sa 2nd reading

Carlo Juancho Funtanilla
-
0
House bill na magbibigay kay Marcos ng kapangyarihang suspindihin ang excise tax, aprubado sa 2nd reading

MAYNILA — Inaprubahan ng House of Representatives noong Miyerkules sa ikalawang pagbasa ang isang panukalang batas na nagbibigay kay Pangulong Ferdinand Marcos Jr. ng emergency power na suspindihin o bawasan ang excise tax sa mga produktong petrolyo, bilang tugon sa pagtaas ng presyo ng langis sa pandaigdigang merkado, isang hakbang na itinuturing ng mga mambabatas na mas lalong mahalaga dahil sa nagpapatuloy na sigalot sa Middle East.

Sa pamamagitan ng viva voce na pagboto, ipinasa ng mga mambabatas ang House Bill No. 8418, na magbibigay-daan sa Pangulo na suspindihin o bawasan ang excise tax sa loob ng hanggang anim na buwan kung ang average na presyo ng Dubai crude ay lalampas sa US$80 kada bariles sa loob ng isang buwan bago ang pagpapatupad ng suspensiyon o pagbabawas. Ayon sa panukala, ang espesyal na kapangyarihang ito ay maaaring gamitin lamang hanggang Disyembre 31, 2028.

Ayon sa panukalang batas, ang suspensiyon o pagbabawas ng excise tax ay awtomatikong matatapos kapag nawala na ang mga kondisyon na nagbigay-daan dito, at ang excise tax ay awtomatikong maibabalik nang hindi na kailangan ng karagdagang aksyon mula sa ehekutibo o lehislatura.

Lalo pang bumigat ang halaga ng panukala kasunod ng babala ng Iran na maaaring umabot sa US$200 kada bariles ang presyo ng langis dahil sa nagpapatuloy na labanan at pag-atake sa mga daungan at imprastraktura sa rehiyon. Ayon sa mga eksperto, ang biglaang pagtaas ng presyo ng krudo ay maaaring makaapekto agad sa presyo ng gasolina sa bansa, gastos sa transportasyon, at antas ng inflation.

Muling nanawagan ang mga grupo ng transportasyon na suspindihin ang excise tax sa langis dahil sa pagtaas ng presyo ng gasolina dahil sa umiinit pang labanan sa pagitan ng Iran, Estados Unidos, at Israel. “Kailangan agad ang aksyon para protektahan ang mamimili at panatilihing abot-kaya ang gastos sa transportasyon,” ayon sa isang kinatawan ng pambansang samahan ng transportasyon.

Nauna dito ay sinabi ng Malacañang na hihintayin ng Pangulo ang ulat ng komite sa panukalang batas bago ito ideklara bilang urgent. Samantala, magdaraos ngayong linggo ang mga komite ng Senado sa Ways and Means at Energy ng mga pagdinig sa hindi bababa sa limang panukalang batas na nagbibigay kapangyarihan sa Pangulo na suspindihin ang excise tax sa langis, na nagpapakita ng focus sa pagbawas ng epekto sa ekonomiya ng posibleng pagtaas ng presyo ng langis.

Dahil sa kasalukuyang tensyon sa rehiyon at posibilidad ng biglaang pagtaas ng presyo ng krudo, ayon sa mga eksperto, ang House Bill No. 8418 ay maaaring magsilbing mahalagang hakbang para protektahan ang ekonomiya ng Pilipinas at ang mga sambahayan laban sa biglaang pagtaas ng presyo ng gasolina.

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

EDGARDO HERNAL
-
0
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
-
0
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
-
0
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
-
0
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
-
0
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.

1...444546...840Page 45 of 840




Tutubi Digital News will shape up the way you stay up to date with the goings-on around Calabarzon, and the world. Tutubi is committed to keep you socially active. Tutubi updates on the Go!


Contact us:

info@tutubi.ph

Popular Posts

Popular category

PH News3607World News3524Asia1578Curiosity1077War Reports and Updates678

Developed by Tutubi News Magazine |Privacy Policy | Terms and Conditions of Use | Cookie Policy | All rights reserved