The Philippines on Saturday called on the United States and Iran to exercise restraint and resume diplomatic talks after renewed hostilities shattered a ceasefire, raising fears of wider instability in the Gulf and threatening one of the world's most critical shipping lanes.

"The Philippines is deeply concerned about the recent developments that have taken place between the U.S. and Iran which threaten efforts towards a final peace agreement," Department of Foreign Affairs (DFA) spokesperson Analyn Ratonel said in a statement.

"We call upon parties to exercise restraint and to return to the path of diplomacy to achieve a peaceful and lasting solution to the conflict," she added.

U.S. President Donald Trump said the ceasefire between Washington and Tehran was "over," although he said both sides had agreed to continue negotiations. 

Iran disputed Trump's characterization, saying it remained committed to the truce while accusing Washington of violating its terms, leaving the future of the ceasefire uncertain. 

The renewed tensions followed U.S. strikes on more than 80 Iranian targets near the Strait of Hormuz after Washington accused Tehran of attacking three commercial vessels in the strategic waterway, a vital artery for global energy supplies. 

The Strait of Hormuz, a narrow passage linking the Persian Gulf to the Gulf of Oman, carries about one-fifth of the world's oil consumption and remains a vital route for global energy supplies. 

Any prolonged disruption to shipping through the waterway could drive up crude prices, increase freight costs and add inflationary pressure on oil-importing countries such as the Philippines.

Ratonel said the DFA had received no reports of Filipino casualties from the latest escalation.

The Philippines has closely monitored developments in the Gulf, home to millions of overseas Filipino workers and a region vital to the country's energy security. 

Thousands of Filipino seafarers also serve aboard merchant vessels that regularly transit the Strait of Hormuz, making any disruption to maritime traffic a concern for Manila.

Earlier this year, Iran assured the Philippine government that Philippine-flagged vessels and Filipino seafarers would be allowed safe passage through the Strait of Hormuz despite heightened tensions. The Department of Migrant Workers has also been monitoring Filipinos.

The government had earlier welcomed the U.S.-Iran ceasefire announced last month, expressing hope it would pave the way for a lasting peace.

The DFA has repeatedly urged all parties to pursue dialogue, warning that a prolonged conflict in the Middle East could endanger Filipinos in the region and weigh on the global economy.