Manila: Malaca±ang on Monday expressed concern over the failure of ceasefire talks between the United States (U.S.) and Iran, warning of continued risks to global oil supply and prices. Palace Press Officer Claire Castro said the development is 'not good news,' as the Philippines and the rest of the world are hoping for a lasting resolution to tensions in the Middle East.

According to Philippines News Agency, the talks between the U.S. and Iran reportedly collapsed following high-level negotiations in Pakistan, dimming prospects for an immediate de-escalation in one of the world's most critical energy regions. Castro emphasized that prolonged tensions could continue to affect petroleum products, noting the Philippines' vulnerability as a net oil importer.

Castro stated, 'Hindi siya magandang balita dahil ang nais po natin. ay magkaroon na po talaga ng permanenteng pagtigil ang sigalot dito sa Middle East (This is not good news because what we want is a permanent end to the conflict in the Middle East).' She further highlighted that continued tensions would have implications for petroleum products, affecting the Philippines directly.

Despite the setback, Castro mentioned that the Philippines maintains a 'non-hostile' standing with Iran, which could help cushion potential disruptions. The situation is expected to be taken up in the next meeting of the Unified Package for Livelihoods, Industry, Food, and Transport Committee, which is leading the government's response to the energy crisis triggered by global developments.