Oil prices dipped as President Trump announced efforts to free ships in the Strait of Hormuz. However, the absence of a US-Iran peace deal continues to support prices above $100. Negotiations remain stalled, with both nations holding firm on their demands. OPEC+ plans a modest output increase, but disruptions in the Strait of Hormuz may limit its impact.
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