<p><strong>GLOBAL:</strong> Yemen’s Iran-aligned Houthi rebels announced that they targeted two Saudi oil tankers traveling through the Red Sea, in retaliation for the vessels’ violation of the blockade decision issued by the armed forces.&nbsp;</p>

<p><strong>Market impact: </strong>Crude oil prices advanced and Treasury yields climbed after Houthi attacks, while US equities finished the session largely unchanged.&nbsp;</p>

<p>Analysts warn that a<strong> dual blockade of the Strait of Hormuz and the Bab al-Mandeb Strait,</strong> an oil chokepoint near Yemen, could disrupt up to 25% of global oil and gas supplies.&nbsp;</p>

<p><strong>LOCAL:</strong> The peso hit an all-time low, closing at 61.75 against the US dollar on Wednesday as the re-escalation of the Middle East conflict rattled global markets.&nbsp;</p>

<p><strong>Market impact: </strong>The PSEi retreated to the 6,200 level amid growing market caution over a weakening peso.&nbsp;</p>

<p><strong>Metrobank forecasts further peso depreciation to 62.10 per dollar by year-end, </strong>driven by seasonal import demand and domestic challenges.&nbsp;</p>