Overview
- The energy secretary says Manila has asked Washington to extend a waiver that would let the country keep buying Russian crude and is waiting for a reply.
- A short US waiver has expired after briefly allowing purchases of Russian oil already at sea.
- Officials are lining up other supply from Colombia, Argentina, Canada, the United States, Brunei and India to reduce risk from any single source.
- President Ferdinand Marcos Jr has suspended excise tax on kerosene and liquefied petroleum gas under emergency powers to blunt higher costs.
- The energy chief says stocks cover about 50 days of use as canceled cargoes and a Strait of Hormuz blockade keep supply tight.