Oil prices soared on Friday as tensions in the Middle East flared, with Israel attacking Iranian military and nuclear targets and Iran retaliating.

Oil market braces for price surge after U.S. attacks on Iranian nuclear facilities. Analysts predict disruptions to Middle Eastern oil infrastructure.

After fuel prices jumped by more than P5 per liter this week, the Department of Energy said motorists could expect a rollback of over P2 per liter next week.

Analysts at Goldman Sachs have suggested a worst-case scenario could lead to the supply of oil through the Strait of Hormuz halving for a month and dropping 10% for another 11 months. This would lead ...

The U.S. attack on Iranian nuclear facilities Saturday night has raised the risk that oil prices surge into the triple digits, but experts say that’s still a remote possibility.

Motorists should expect an increase of almost P5 per liter at the pump next week, amid supply fears caused by escalating tensions in the Middle East.

Oil prices have tallied steep losses so far this week, pulling back sharply from gains seen at the start of the Israel-Iran conflict less than two weeks ago.

The Strait of Hormuz is identified as one of the world's most critical oil chokepoints, with a staggering volume of oil ...

The escalating conflict between Israel and Iran has raised concerns among top oil executives about potential disruptions to global energy supplies and prices. Despite a declared ceasefire by U.S ...

Yields and prices move in opposite directions, meaning prices are higher. —Lee Ying Shan Oil prices surge 9% on heels of Israeli strikes, set for largest single-day gains in about five years ...

Additionally, average diesel prices recorded their largest weekly jump since August 2023. Now, with the U.S, launching attacks on Iran, oil prices are likely to continue trending higher." ...

On the other hand, Israel and its Western allies accuse Iran of being behind a series of attacks on Israeli interests, including several drone strikes on Israeli-owned oil tankers and cyberattacks.