Metro Manila. Philippines – President Ferdinand Marcos Jr. welcomed a two-week ceasefire between the United States and Iran, saying the Philippines will “take full advantage” of the window to secure fuel supply and support Filipino seafarers affected by the conflict.
He said the truce, resulting in the reopening of the vital Strait of Hormuz, would allow stalled shipments and vessels to resume movement after weeks of disruption in one of the world’s most critical oil routes.
“We will take full advantage of the two weeks to increase our supply as much as possible,” the president said on Wednesday, noting that Philippine-flagged vessels and oil shipments are expected to pass through the strait under existing arrangements with Iran.
The ceasefire comes after weeks of attacks that severely disrupted traffic in the strait — a chokepoint where a fifth of the world’s oil supply passes — triggering supply concerns and price spikes globally.
Marcos said the reopening of the strait would help thousands of stranded Filipino seafarers in ships that could not enter or exit the waterway.
“Number one, our seafarers… they will be able to do their job,” he said, adding that delayed shipments bound for the Philippines could now proceed, helping stabilize supply.
The president also expressed hope that the ceasefire could ease pressure on global oil prices, though he cautioned against raising high hopes.
“Two weeks may not be enough time to bring the prices down… but maybe if it is extended further… then prices will start to follow,” he said.
The country is under a state of national energy emergency as the conflict disrupted global oil supply chains. The Philippines imports almost all of its oil needs.
