Manila, June 23 -- President Ferdinand R. Marcos Jr. is set to meet with his economic team to assess the potential impact of the escalating Middle East conflict, particularly on fuel prices, Malacanang said Monday.

Palace Press Officer Claire Castro said the meeting aims to review contingency measures amid growing concerns over a possible energy crisis, as tensions in the oil-rich region threaten global supply chains.

"Magkakaroon ng meeting ang economic team with the President, maibibigay ko po sa inyo kung ano ang mga plano bukas (There will be a meeting between the economic team and the President. I will provide you with the plans tomorrow)," Castro said during a press briefing in Malacanang.

The statement comes amid rising fears ov...