SINGAPORE, July 2 (Reuters) – Oil prices dropped about 1% on Thursday, down for a third consecutive day, after Qatar said Iran and the U.S. had made progress in indirect talks focused on the Strait of Hormuz, which handled one-fifth of global oil supply before the war. The discussions produced “positive progress” on issues related to the memorandum that halted the war…

The Iran war is showing why the Philippines can’t afford to neglect its farmers
A war thousands of kilometers away is beginning to ripple through something as basic as the Filipino dining table. The conflict involving Iran has pushed oil prices higher, disrupted key shipping routes, and strained global supply chains—especially for fertilizer, a critical input for food production. Farmers are already feeling the pressure. Fertilizer prices have surged by as much as 30% to 40%,…