<p><span data-teams="true"><strong>GLOBAL: Two oil tankers, each carrying around two million barrels of crude oil, caught fire</strong> after striking naval mines in the Strait of Hormuz while attempting to navigate the waterway.&nbsp;</span></p>

<p><span data-teams="true"><strong>Market impact: Oil surged to a multi-month high of USD 110 a barrel on geopolitical supply risks</strong>, while US stocks fell amid a deepening tech sector selloff.</span></p>

<p><span data-teams="true"><strong>Despite the escalation, US President Donald Trump expressed optimism that a diplomatic resolution to end the war would be reached</strong> shortly after the upcoming US midterm elections.</span></p>

<p><span data-teams="true"><strong>LOCAL: A BusinessWorld poll showed that the Bangko Sentral ng Pilipinas (BSP) is expected to hike its policy rate further this week</strong>, with the majority anticipating a 25-basis-point (bp) rate increase.</span></p>

<p><span data-teams="true"><strong>Market impact: The PSEi advanced and the peso appreciated</strong> as broader market sentiment strengthened.</span></p>

<p><span data-teams="true"><strong>Metrobank projects further BSP policy rate hikes through year-end</strong> amid surging inflation risks, currency depreciation, and El Niño pressures.</span></p>