Asia Pacific: Oil Prices Set to Rise Amid Market Volatility

Consumers across the Asia-Pacific region should prepare for another round of oil price hikes, as global market trends indicate an upward adjustment. The Department of Energy attributes the increase to geopolitical tensions, particularly the escalating conflict between Russia and Ukraine, as well as stalled nuclear negotiations between the U.S. and Iran. With trade talks between…

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Philippines Demands Compensation for Ayungin Shoal Incident

The Philippine government is demanding P60 million in damages from China after its coast guard allegedly rammed and towed Filipino Navy equipment during a resupply mission in Ayungin Shoal. Defense officials describe the incident as a deliberate act of aggression, rejecting Beijing’s claims that Philippine vessels illegally intruded into Chinese waters. The confrontation underscores ongoing…

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