International News 25 March 2026
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Iran Fires Wave of Missiles at Israel, Rejects Trump’s Claims of Ongoing Negotiations
Iran launched a new wave of missile attacks on Israel, triggering air raid sirens across multiple areas, including Tel Aviv. According to the Israeli military, several of the missiles were successfully intercepted, although falling debris caused damage to residential homes in the northern region. No casualties have been reported so far. The strike comes amid claims by U.S. President Donald Trump that peace talks with Iran were underway claims that Iranian officials have strongly denied. Iran’s Parliament Speaker, Mohammad Baqer Qalibaf, rejected the statement, asserting that no negotiations are taking place and accusing Trump of spreading false information to influence financial and oil markets. Meanwhile, Trump had recently postponed a planned strike on Iran’s energy facilities for five days, citing what he described as productive discussions aimed at easing tensions in the Middle East.
Japan to Release Oil Reserves by End of March to Anticipate Middle East Supply Crisis
Japan will begin utilizing jointly held oil reserves with producing nations by the end of March, Prime Minister Sanae Takaichi announced on Tuesday (March 24), as Tokyo ramps up emergency measures to offset supply losses from the Middle East. The move follows earlier steps to release privately held reserves starting March 16, with national stockpiles set to be deployed from March 26. Global oil prices have surged to their highest levels since 2022 after the United States and Israel launched missile strikes on Iran on February 28. Meanwhile, the Strait of Hormuz a critical route for global oil and liquefied natural gas shipments remains closed, further tightening supply. Takaichi stated that the coordinated release of shared reserves with oil-producing countries is scheduled to begin by the end of March.
Philippine Economy Faces Risk of Double-Digit Inflation if Oil Hits $200
The Philippines is bracing for potential economic fallout from rising global oil prices, with authorities warning of worst-case scenarios that could push inflation into double digits and drag economic growth below target this year. The government is assessing various risks as energy costs continue to climb following tensions in the Middle East. Before the conflict escalated, the Philippines projected inflation to rise to 3.6% this year from 1.7% in 2025, still within its 2%–4% target range, while economic growth was expected to reach 5%–6% from 4.4% last year. However, Economic Planning Secretary Arsenio Balisacan outlined five scenarios to the Senate, based on varying oil price levels and durations. In the worst-case scenario where oil prices hit $200 per barrel and remain at that level for six months inflation could surge to 7.3%–8.6% for the year, with a potential peak of as high as 14.3% at one point.