Summary

• Shipping disruptions in the Strait of Hormuz have hit the Philippines harder than anywhere else in Asia, as the country imports 98% of its oil from the Middle East.
• Nickel Asia Corp., the country's largest nickel producer, has just 30 days of fuel supply remaining, while DMCI Mining Corp. reports some operators have as little as 15 days of fuel supply left.
• Fuel costs have risen to 128 Philippine pesos per liter from about 50 pesos pre-war, going up to 170 pesos at one point.
• Nickel mining in the Philippines is highly susceptible to weather, with peak monsoon season typically running from October to March.

Shipping disruptions in the Strait of Hormuz have hit the Philippines harder than anywhere else in Asia, as the country imports 98% of its oil from the Middle East. Fuel reserves of 55-57 days at the outset

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