{"id":13438,"date":"2025-06-25T23:10:40","date_gmt":"2025-06-25T21:10:40","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=13438"},"modified":"2025-06-25T23:10:40","modified_gmt":"2025-06-25T21:10:40","slug":"marcos-minimizes-impact-of-conflict","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/06\/25\/marcos-minimizes-impact-of-conflict\/","title":{"rendered":"Marcos Minimizes Impact of Conflict"},"content":{"rendered":"\n<p class=\"p2\">By <b>Chloe Mari A. Hufana <\/b><span class=\"s2\"><i>and <\/i><\/span><b>Sheldeen Joy Talavera, <\/b><i>Reporters<\/i><\/p>\n<p class=\"p4\"><span class=\"s3\">PHILIPPINE President Ferdinand <\/span><span class=\"s4\">R. Marcos, Jr. on Wednesday stated that the economic repercussions from the conflict <\/span><span class=\"s3\">between Israel and Iran would be <\/span><span class=\"s5\">\u201cmanageable,\u201d referencing stabilizing <\/span><span class=\"s3\">global oil prices after a ceasefire that alleviated concerns about the closure of the Strait of Hormuz, an essential shipping route for the global economy.<\/span><\/p>\n<p class=\"p5\">\u201cUp to now, there is no substantial impact on the economy,\u201d he remarked to reporters in Capas, Tarlac in a blend of English and Filipino, according to a transcript provided by his of<span class=\"s6\">f<\/span>ice.<\/p>\n<p class=\"p5\">\u201cWe analyzed the situation and evaluated how it might develop. We believe that the impact on the economy should be manageable. Naturally, there could still be some influence if oil prices increase,\u201d he continued.<\/p>\n<p class=\"p5\">The President convened with his economic team on Tuesday to evaluate the possible consequences of the Middle Eastern conflict, particularly on energy prices. Economy, Planning, and Development Secretary Arsenio M. Balisacan indicated that the war\u2019s effect was minor and not alarming.<\/p>\n<p class=\"p5\">Brent crude momentarily surged to $79 per barrel amidst geopolitical anxieties but decreased to around $69 after US President Donald J. Trump declared a ceasefire, easing worries about potential disruptions to the crucial Strait of Hormuz shipping route, as reported by Reuters.<\/p>\n<p class=\"p5\">Brent had settled at its lowest since June 10 and since June 5 for West Texas Intermediate before Israel executed a surprise strike on significant Iranian military and nuclear installations on June 13.<\/p>\n<p class=\"p5\"><span class=\"s3\">An oil price reduction is anticipated next week based on a two-day trading session in the global market, according to Jetti Petroleum, Inc. President Leo P. Bellas in a Viber message to reporters.<\/span><\/p>\n<p class=\"p5\">\u201cEssentially, refined fuel costs followed the trends of crude oil,\u201d he noted. \u201cThe decrease in prices commenced with the reduction of war risk premiums on crude oil after the conflict eased.\u201d<\/p>\n<p class=\"p5\">Mr. Bellas indicated that global oil prices \u201cfurther declined\u201d following the ceasefire agreement, diminishing the risk of supply disruptions in the Middle East.<\/p>\n<p class=\"p5\">Based on two-day trading from the Mean of Platts Singapore (MOPS), a standard for refined oil products, diesel prices are projected to drop by P0.80 to P1.10 per liter, while gasoline prices may rise by P0.10 or decrease by P0.20 per liter.<\/p>\n<p class=\"p5\">Mr. Bellas mentioned that the initial indications regarding domestic price movements could still vary, depending on MOPS trading in the next three days.<\/p>\n<p class=\"p5\"><span class=\"s3\">\u201cAlthough tensions have eased, the situation in the Middle East remains delicate yet stable at this point,\u201d he explained. \u201cCrude oil prices could fluctuate within a range in the coming days.\u201d<\/span><\/p>\n<p class=\"p5\">Mr. Bellas stated that refined fuel prices in Asia would be influenced by \u201csupply-demand fundamentals,\u201d with demand expected to rise during the summer season and supply anticipated to gradually increase with the return of refineries post-turnaround.<\/p>\n<p class=\"p5\">In a release, the Department of Energy announced it had conducted on-site monitoring at fuel retail outlets in Taguig City to ensure that consumers receive petroleum products in appropriate quantity and quality.<\/p>\n<p class=\"p5\">It also sought to guarantee that fuel retailers adhered to the staggered price increases.<\/p>\n<p class=\"p5\">The Philippines, a net importer of oil, is extremely sensitive to sudden changes in global oil prices.<\/p>\n<p class=\"p5\">The government is keeping an eye out for indications of price gouging as many have raised prices despite a decline in global rates.<\/p>\n<p class=\"p5\">Mr. Marcos mentioned that with oil prices stabilizing, the administration sees no immediate necessity to introduce further fuel subsidies for sectors such as transport, fisheries, and agriculture.<\/p>\n<p class=\"p5\">He added that assistance in the form of subsidies would only be contemplated if fuel prices surged again.<\/p>\n<p class=\"p5\">\u201cThe price of oil has not escalated,\u201d he stated in response to transport groups\u2019 request for increased support. \u201cIt rose for one day, and then it went back down.\u201d<\/p>\n<p class=\"p5\">While assistance programs remain in effect, the government remarked that additional aid would rely on actual price movements and not on fleeting fluctuations.<\/p>\n<p class=\"p7\"><b>\u2018BIGGER DEAL\u2019<br \/>\n<\/b><span class=\"s4\">Oil companies in the Philippines are required to maintain a minimum 30-day fuel inventory to stabilize local supply. If global crude prices exceed the $80 per barrel mark, fuel subsidies for public transport drivers and fisherfolk will be automatically triggered.<\/span><\/p>\n<p class=\"p5\"><span class=\"s3\">Local fuel retailers executed the first phase of the oil price increase on Tuesday, with some implementing the second phase either on Thursday or Friday.<\/span><\/p>\n<p class=\"p5\">The total price hike for the week is P3.50 per liter for gasoline, P5.20 for diesel, and P4.80 for kerosene.<\/p>\n<p class=\"p5\">The Energy department and economic managers are expected to remain vigilant regarding global oil market changes for any signals of renewed volatility.<\/p>\n<p class=\"p5\">Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc., mentioned that the Israel-Iran war is more significant than past conflicts involving oil-producing nations, such as the Russia-Ukraine war.<\/p>\n<p class=\"p5\">\u201cThe Middle East is the primary source of the [Philippines\u2019] oil,\u201d he noted in a Viber chat. \u201cWhile any war involving oil-exporting nations will lead to global supply interruptions, the crisis in the Middle East has more direct repercussions on our oil supply.\u201d<\/p>\n<p class=\"p5\">He asserted that the ceasefire facilitated by US President Donald J. Trump is \u201cexcellent news\u201d for the economy and was the main factor behind Mr. Marcos\u2019 assessment that the conflict would minimally affect the Philippine economy.<\/p>\n<p class=\"p5\"><span class=\"s3\">\u201cIn the long term, constant geopolitical instability necessitates the diversification of trade partners and supply chains, especially for essential goods like oil,\u201d he added.<\/span><\/p>\n<p class=\"p5\">Israel initiated an unexpected strike on Iran earlier this month, targeting critical nuclear and ballistic missile facilities along with high-ranking military figures. Washington joined the campaign on Sunday, targeting vital nuclear sites in Iran.<\/p>\n<p class=\"p5\">Jose Enrique \u201cSonny\u201d A. Africa, executive director at the think tank IBON Foundation, described the government\u2019s assessment as \u201cmisleading,\u201d particularly with the growing uncertainty and US involvement in the war.<\/p>\n<p class=\"p5\">\u201cSuch dismissive attitudes highlight the lack of strategic thinking regarding the economy\u2019s fundamental overreliance on imported energy,\u201d he communicated via Viber. \u201cThe absence of long-term policy actions is why these and similar vulnerabilities will persist.\u201d<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bworldonline.com\/top-stories\/2025\/06\/26\/681470\/marcos-downplays-fallout-from-war\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chloe Mari A. Hufana and Sheldeen Joy Talavera, Reporters PHILIPPINE President Ferdinand R. Marcos, Jr. on Wednesday stated that the economic repercussions from the conflict between Israel and Iran would be \u201cmanageable,\u201d referencing stabilizing global oil prices after a ceasefire that alleviated concerns about the closure of the Strait of Hormuz, an essential shipping<\/p>\n","protected":false},"author":3,"featured_media":13439,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[2831],"class_list":["post-13438","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-marcos-downplays-fallout-from-war"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marcos Minimizes Impact of Conflict - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/06\/25\/marcos-minimizes-impact-of-conflict\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcos Minimizes Impact of Conflict - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"By Chloe Mari A. 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