00:00The United States and Iran have received the framework of a plan to end hostilities.
00:04But Iran says it will not reopen the Strait of Hormuz as part of a temporary ceasefire.
00:09A senior Iranian official adds, Tehran won't accept deadlines as it reviews the proposal.
00:14The peace plan involves a two-tier approach with an immediate ceasefire followed by a
00:18comprehensive agreement. Oil prices climb as fears of supply disruptions in the Middle East grow.
00:24Crude oil surges with Brent at $110 per barrel and West Texas at over $112 per barrel.
00:30Prices had already surged in the previous session with Brent and WTI gaining 8% and 11% respectively.
00:37Meantime, Iran will allow the, quote,
00:39safe, unhindered, and expeditious passage of all Philippine vessels, energy sources,
00:44and Filipino seafarers through the Strait of Hormuz.
00:47Foreign Affairs Secretary Maria Teresa Lazaro confirmed this on Thursday, April 2,
00:51after a phone conversation with Iranian Foreign Minister Seyed Abbas Arakshi.
00:55Lazaro added it would not only ensure the safety of Filipino seafarers in the Strait,
01:00but also help secure the country's energy needs.
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