S&P 5007,711.76▼0.2% Nasdaq26,402.42▼0.5% Dow53,560.00▼0.0% Russell 2K2,972.37▼1.4% 10-Yr4.72%+5bp VIX14.43−0.08 WTI$83.44▼0.1% Gold$4,504.10▼2.3% EUR/USD1.159▼0.6% BTC$78,253▲0.5% Nikkei66,132▼0.2%
At close · Sat, Aug 29, 2026
Daily Market Updates.

Global Markets

HomeGlobal MarketsTrade & TariffsChina and Philippines urged to resume joint South Chin…

China and Philippines urged to resume joint South China Sea oil and gas

A joint report from Chinese and Philippine analysts says a South China Sea “early-harvest” oil and gas project could help build trust between Beijing and Manila.

China and the Philippines have been urged to resume joint oil and gas exploration in the South China Sea as a way to ease tensions in the disputed waters, according to a joint report by Chinese and Philippine analysts.

The report, published Monday by the Shanghai Institutes for International Studies think tank, said the relationship between the two countries is at a “rather sensitive and critical crossroads” and argued that joint energy work could function as a feasible early-harvest project.

In addition to energy exploration, the analysts said Beijing and Manila should cooperate on other “low-sensitivity” areas, including marine environmental protection and combating crime at sea.

The report also called for identifying and pursuing economic projects that serve shared interests while carrying low security implications, framing such steps as a trust-building approach.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.