LIVE UPDATES: Conflict in the Middle East (March 10, 2026)

The Department of Economy, Planning and Development (DEPDev) on Tuesday said inflation could accelerate to as much as above 7% should the conflict in the Middle East escalate further and for a longer period.

Discussing the DEPDev’s analysis on the economic impact of the US-Iran-Israel conflict to members of the House Representatives, Socioeconomic Planning Secretary Arsenio Balisacan presented two scenarios.

The first scenario is a situation in which crude oil prices average roughly $100 per barrel in March and stay at above $80 per barrel until May.

The second scenario, which he described as a more severe or situation, is that crude oil prices average at $140 per barrel and remain at more than $80 per barrel until September.

The Light Rail Transit Authority (LRTA) has implemented a four-day onsite work arrangement to support the government’s energy conservation efforts amid the ongoing Middle East conflict.

Under the new schedule, non-frontline personnel will report on-site from Monday to Thursday, while a work-from-home setup will be observed on Fridays.

DUBAI, United Arab Emirates – About 60% of the 300 overseas Filipino workers (OFWs) in Dubai who signed up online for repatriation amid the Middle East crisis did not show up at the airport for their trip back to the Philippines, Labor Attaché John Rio Babauta told GMA News Online on Tuesday.

Babauta said those who stayed did not find the situation to be dire, thus there was no need to fly back home.

The Armed Forces of the Philippines’ operations in the disputed West Philippine Sea are unaffected even with the surge in fuel prices due to the tensions in the Middle East, the Philippine Navy said on Tuesday. 

“All activities of the AFP for this year that are operational in nature will continue. It’s our mandate that we should be performed,” said Rear Admiral Roy Vincent Trinidad, Philippine Navy spokesperson for the West Philippine Sea.

PARIS, France - Mojtaba Khamenei, the son of late Iranian supreme leader Ali Khamenei who has been appointed as the new head of the Islamic republic, is a discreet figure who offers continuity of his father's hardline leadership.

The 56-year-old had no official post during his father's rule, but was speculated to be acting behind the scenes to pull strings at the heart of power in Iran.

He is regarded as close to conservatives, notably because of his ties with the powerful Islamic Revolutionary Guard Corps, which swiftly pledged allegiance to the new leader.

The House ways and means panel on Tuesday approved an unnumbered substitute bill allowing President Ferdinand "Bongbong" Marcos, Jr. to suspend or reduce excise tax on fuel amid the conflict between the US-Israel forces and Iran.

The bill specifically allows the President to reduce excise tax on fuel products for six months at the maximum, provided that the average Dubai crude oil price exceed US$ 80 per barrel for one month immediately preceding the suspension or reduction of the excise tax. 

Likewise, the bill provides that the President will only have such additional authority until December 31, 2028.

The Department of Budget and Management (DBM) on Tuesday said a portion of the P39.8-billion calamity fund under the 2026 national budget can be used to provide fuel subsidies to affected sectors amid rising fuel prices caused by the Middle East conflict.

During a hearing of the Senate Committee on Finance, DBM Undersecretary Janet Abuel cited a special provision in the 2026 General Appropriations Act (GAA) which allotted P23.4 billion for the National Disaster Risk Reduction and Management (NDRRM) Program.

DUBAI/CAIRO/WASHINGTON — Iran's Revolutionary Guards said on Tuesday they would not allow "one liter of oil" to be shipped from the Middle East if US and Israeli attacks continue, prompting a warning from President Donald Trump that the US would hit Iran much harder if it blocked exports from the vital energy-producing region.

Trump's comments came after global financial markets seesawed on Monday on concerns that Iran's security establishment was rallying behind new Supreme Leader Mojtaba Khamenei and was not prepared to back down any time soon.

Speaker Faustino "Bojie" Dy III vowed Tuesday to prioritize the passage of bills that would protect the public from the impact of soaring fuel prices amid the ongoing conflict in the Middle East.

Malacañang on Tuesday allayed fears regarding the impact of the Middle East crisis on the country's supply of fuel and basic consumer goods, saying there is no reason for the Filipino public to panic buy at retail outlets.

"Hindi po kailangan magkaroon ng panic buying dahil kumpleto naman po at enough pa po ang supply, lalong-lalo na ang ating fuel at ng ating mga basic commodities," Palace Press Officer Undersecretary Atty. Claire Castro told the Philippine media delegation in New York City. 

(There's no need for panic buying since we have enough supply, especially our fuel and basic commodities.)