Oil prices climbed for a second day as the U.S. seized a sanctioned tanker off Venezuela, heightening supply disruption fears. Reports of Ukraine striking a Russian oil vessel also provided support. These events are expected to keep crude prices elevated, with traders noting Asian buyers seeking discounts on Venezuelan oil due to sanctions and increased risks.
Localisation lens on 500 most-imported items: DPIIT analysing data; move aims to reduce country’s import bill
The Indian government is scrutinizing over 500 imported products, including machinery, fertilizers, and electronics, to identify opportunities for domestic manufacturing and reduce reliance on foreign
May 31, 2026