LIVE UPDATES: Conflict in the Middle East (April 23, 2026)

 Renewed worries about the Iran war and the Strait of Hormuz drove oil back toward $105 a barrel on Thursday, prompting a fall back in global share and bond prices and gains for the dollar.

Concerns had returned after Iran on Wednesday seized two ships trying to exit the Strait, leaving investors wondering if the fragile ceasefire with the US that has allowed markets to rebound in recent weeks will be able to hold.

Brent crude futures were up 2.5% in London at nearly $105 a barrel, having jumped 3.5% on Wednesday too.

The closure of the Strait of Hormuz has forced policymakers in Asia to face questions over the security of other maritime chokepoints, including the Strait of Malacca, which is the world's busiest waterway for international trade.

The 900-km (550-mile) long Malacca Strait, bounded by Indonesia, Thailand, Malaysia and Singapore, provides the shortest sea route from East Asia to the Middle East and Europe.

It carries nearly 22% of the world's maritime trade, according to the Center for Strategic and International Studies. This includes oil and gas shipments from the Middle East to the energy-hungry economies of China, Japan and South Korea.

MANIBELA on Thursday said it has paused its protest activities, but the transport strike will continue.

“Wala lang pong protest pero tuloy pa rin ang tigil pasada,” MANIBELA chairperson Mar Valbuena told GMA News Online in a message.

(There is no protest, but the transport strike continues.)

The group said that the halt in rallies is being used to update driver masterlists for submission to the government.

“Habang naka-stop, may mga inaayos po kaming mga masterlist para sa pag-update sa [Land Transportation Franchising and Regulatory Board],” he added.

(During the pause, we are working on some masterlists for an update to the Land Transportation Franchising and Regulatory Board.)

Valbuena said he went to the LTFRB office on Wednesday after an invitation from the agency.

Iran said on Wednesday it would not reopen the Strait of Hormuz as long as the US naval blockade remained in place, calling it a "blatant violation" of the ceasefire between the longtime foes.

Iran's Revolutionary Guards meanwhile said their naval forces had seized two container ships trying to cross the strategic strait.

Foreign ministry spokesman Esmaeil Baqaei said the Islamic republic was appreciative of Pakistan's efforts to end the Middle East war but did not comment on a ceasefire extension announced by the United States.

US President Donald Trump had said on Tuesday he was extending the truce following a request by Pakistani mediators and to allow more time for peace talks.

More than P98 million in fuel subsidies were extended to taxi operators and drivers across the country so far as part of the government’s efforts to assist the transport sector amid the high prices of fuel products, the Land Transportation Franchising and Regulatory Board (LTFRB) said on Wednesday.

In a statement, LTFRB chair Vigor Mendoza II said bulk of the cash assistance was distributed at the LTFRB Central Office in Quezon City, followed by Davao Region, Central Visayas, and Western Visayas.  

He added that the distribution of the rest of cash aid for other public utility vehicle (PUV) drivers is being expedited as ordered by President Ferdinand Marcos Jr.  

Companies from consumer goods to travel and mining warned on Wednesday that the US-Israeli war with Iran is driving up costs, disrupting supply chains and hurting consumer confidence, clouding financial outlooks.

The cautious tone so far in the earnings season highlights the pressure on businesses already hit by US tariffs, higher input costs and weak demand before the conflict erupted in late February.

While some companies stuck to their full-year forecasts, executives flagged rising transport and raw material costs, particularly linked to disruption in the Strait of Hormuz, and sharply reduced visibilit

The Department of Migrant Workers (DMW) on Wednesday reported the safe repatriation of 25 overseas Filipinos from Israel and Lebanon amid the ongoing conflict in the Middle East. 

In a Facebook post, the DMW said the repatriated Filipinos – composed of 14 caregivers from Israel and 11 household service workers from Lebanon – arrived on April 21 at the Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City. 

Their return is in line with President Ferdinand Marcos Jr.’s directive to ensure the safety and welfare of Filipinos affected by the Middle East crisis.