Rising tensions are hitting global industries. Jet fuel surges to $200 per barrel, pressuring airlines. Sulfur and naphtha spikes expose fragile supply chains.

China and the Philippines can cooperate to achieve peace and prosperity, Jaime A. FlorCruz, Ambassador of the Philippines to China, said in an interview with CGTN. He added that no single country or region can exist independently without exchanges and cooperation with other regions.

Japanese Prime Minister Sanae Takaichi announced Tuesday local time that Japan will begin releasing emergency oil reserves on Thursday as the Japanese government attempts to curb surging energy prices due to the situation in the Middle East, according to Japanese media reports.

The US decision to ban imports of new foreign-made routers, widely seen as targeting Chinese products, marks an escalation in Washington's tightening restrictions on Chinese technology.

Global energy markets are facing one of the most severe disruptions in decades, with the International Energy Agency (IEA) warning that the ongoing US-Israel-Iran conflict has already removed around 11 million barrels per day from global oil supply, an impact larger than past oil crises combined.

Former US deputy secretary of defense Kathleen Hicks told reporter Colin Demarest at the Axios AI+DC event that the AI competition with China is "our race to lose," according to a post by Axios on social platform X on Tuesday.