<p><span data-teams="true"><strong>GLOBAL: The International Energy Agency (IEA) has agreed to release more than 20 million barrels of diesel&nbsp;</strong>as soon as possible to cool surging global fuel markets.&nbsp;</span></p>

<p><span data-teams="true"><strong>Market impact:&nbsp;Oil prices fell on emergency reserve releases</strong>, while US equities advanced as AI stocks stabilized.</span></p>

<p><span data-teams="true"><strong>While this provides a crucial short-term buffer, the IEA’s release does not address the severe lack of operational refining capacity,</strong> as key Middle East refinery hubs sustained significant damage.&nbsp;</span></p>

<p><span data-teams="true"><strong>LOCAL: Cash remittances routed through banks rose by just 1.9% year-on-year to USD 3.035 billion in August&nbsp;</strong>due to persistent global uncertainties and weaker OFW deployment.&nbsp;</span></p>

<p><span data-teams="true"><strong>Market impact:</strong> <strong>The PSEi advanced, driven by bargain hunting,</strong> while the USDPHP surpassed the 63 threshold for the first time amid broad US dollar strength.</span></p>

<p><span data-teams="true"><strong>A recovery could follow in the coming months,</strong> fueled by the traditional holiday-driven surge in remittances as Filipinos abroad send extra funds home for the Christmas season.</span></p>