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Asia shares slip amid escalating US-Iran tensions
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Global markets tumbled as US-Iran tensions and prolonged Israeli conflict drove oil prices higher. Asian shares and futures dipped, with investors preparing for extended fighting. The inflationary pressures have reduced expectations for central bank rate cuts.
Sinabi ni Pangulong Ferdinand Marcos Jr. noong Martes na sapat na ang suplay ng crude oil sa bansa hanggang katapusan ng Hunyo dahil sa mga pagawaan ng Petron Corporation. Ito ay sa gitna ng pag-aalala tungkol sa global na abswelto ng suplay mula sa hidwaan sa Gitnang Silangan. Nagpahayag din siya ng mga hakbang ng gobyerno upang mapagaan ang epekto nito.
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Colombia's National Environmental Licensing Authority (Anla) has approved Frontera Energy Colombia's VIM-46 oil exploration project in Magangué. The initiative involves drilling up to 55 wells from a maximum of 11 platforms and installing production infrastructure. The approval comes with strict environmental compliance conditions.
At the Southern Africa Oil and Gas Conference in Cape Town, Minister Gwede Mantashe urged harnessing South Africa's oil and gas resources amid disruptions from the US-Israeli war on Iran. He stressed legislative urgency to avoid litigation delays. Industry leaders echoed calls for diversified energy portfolios.
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The International Energy Agency (IEA) recommended 10 measures, including telework and license plate rotation, to mitigate the impact of high oil prices from the Middle East conflict. These aim to reduce demand in road transport, aviation, and industry. Executive director Fatih Birol warned of the largest supply disruption in oil market history.
Humantong ang Philippine peso sa record na mababang P60.10 laban sa US dollar noong Huwebes, Marso 19, dahil sa pagtaas ng presyo ng langis dahil sa hidwaang sa Gitnang Silangan. Ito ay nagiging mas mahal ang mga importasyon, partikular na ang langis na ipinapasok ng bansa.
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Frank Pearl, president of the ACP, stressed that Colombia must strengthen its energy security without relying on other countries. This comes amid Venezuela's first gas shipment and a drop in national oil and gas production in 2025.
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