Crude oil futures traded higher on Monday morning after Israeli Prime Minister Benjamin Netanyahu ordered forces to move further into Lebanon.

At 10.04 am on Monday, August Brent oil futures were at $93.15, up by 2.23 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $89.64, up by 2.61 per cent. June crude oil futures were trading at ₹8540 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹8281, up by 3.13 per cent, and July futures were trading at ₹8370 against the previous close of ₹8135, up by 2.89 per cent.

Israeli Prime Minister Benjamin Netanyahu said he has instructed his forces to expand the incursion in Lebanon.

In a statement posted on the website of the Israeli Prime Minister, he said: “Our forces have crossed the Litani River. They took dominant terrain. They captured the Beaufort ridge. And now my instruction is to deepen and expand our hold on places that were under Hezbollah’s control.”

Stating that the capture of Beaufort is a dramatic stage and a dramatic change in the policy Israel is leading, he said: “We have broken the barrier of fear. We are taking the initiative, we are operating on all fronts – in Syria, in Gaza, in Lebanon; we have established security zones beyond our borders to protect our communities.”

Netanyahu said: “Well, since the beginning of the War of Redemption we have eliminated 8,000 Hezbollah terrorists. Since Operation Roaring Lion – 3,000. In the past month alone – 700. This is more than everyone we eliminated during the Second Lebanon War.”

This incursion comes at a time when Iran and the US are working out modalities to end the war in West Asia.

June natural gas futures were trading at ₹321 on MCX during the initial hour of trading on Monday against the previous close of ₹316, up by 1.58 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), June dhaniya contracts were trading at ₹12950 in the initial hour of trading on Monday against the previous close of ₹12830, up by 0.94 per cent.

June turmeric (farmer polished) futures were trading at ₹16220 on NCDEX in the initial hour of trading on Monday against the previous close of ₹16188, up by 0.20 per cent.

Published on June 1, 2026

I marvel at the way some people seamlessly navigate post-retirement life and despair at the way others struggle to come to terms with the closure of their professional career.

The interesting thing is that whether a person embraces or struggles with post-retirement, is not dependent on how that person’s career unfolded. Be it a sterling career to reach a position of great responsibility or an average run of decades of sincere service that does not seem to determine the attitude and approach to letting go. Is it therefore inherent wisdom and a blessed detachment that helps one say goodbye and walk off to the next phase in life? Is it extreme attachment to an organisation, to a role, or even an egoistic expression of ‘I am still needed’ that prevents a healthy acceptance that one’s tenure is done? Is it the price one pays because they made their office and their role so central to their existence?

I cast my mind and find friends who, after great careers, never visited the office again. Instead with alert and open minds, they chose to jazz up their life with new interests and experiences and fresh purpose. These people provide pro-bono service in the social sector, do some people coaching, take responsibility for their Resident Welfare Association, all with the enthusiasm of a first job. I have a college batchmate, who post-retirement conceptualised and executed the largest residential solar power project in Bengaluru.

But my examples are not only about people who found new avenues. There are also friends who have brilliantly navigated this phase by rewarding themselves for a lifetime of hard work and accomplishment by immersing themselves in music, travel, photography or simply enjoying time with their grandchildren. These are wise people who let go the achievements and accomplishments of their past, thus freeing themselves to explore the new.

But the art of ‘letting go’ is not something one develops at 60. It is a mindset and wisdom that is developed in a variety of situations and circumstances right through one’s career. I witnessed this within a year of joining my first job. My supervisor, a dynamic sales manager with fantastic customer contacts, was asked to pass on the verdant Pune industrial business to me. The chief wanted me to grow into that role, while planning a new progression path for my supervisor. Sadly, my supervisor could not digest letting go of the Pune business he had developed over years. Not insecurity, not resentment, but the classic trap of – this is what I do best and I do it better than anyone else. Months later, when I won a huge order from one of those accounts, I announced in every company forum that I had merely collected the order and the credit must go to the person who had nurtured the account so well. That announcement by me was balm to the man, but I felt sad that a seasoned professional needed this kind of cushioning to make peace with changed circumstances. I vowed I will manage these things better.

Years later, when I had to move on from leading an extremely successful division with a close-knit team, I felt the pangs of what I would be missing. But I told myself, no sentiments – this will be a clean, happy break. I wrote a cheery farewell note recalling the best memories of my tenure with them. Some years later I moved on from that organization. I lost touch with many of them, though a few picked up the threads once WhatsApp came into our lives. We reminisce but I have a self-imposed rule: the minute someone talks of how I was a prime reason for the good times we had, I brusquely change the topic and discourage that thread of chatter.

Later, I also learnt the hard way, that there is no fixed rule of how you let go. In my next organisation, where again I had to move on from one leadership role to another, I did a ‘rinse and repeat’ process of doing a clean break with my division colleagues before moving on. Imagine my surprise when I realised that the clean break was something they could not come to terms with.What I felt was a neat farewell was an abrupt goodbye for them. They felt let down that I did not connect regularly with them or call to ask how they were doing. They felt that all the camaraderie I had built was only related to our work.How could I explain to them that if I continued my interactions, it might hamper their new leader who needed space to establish his relationships and work expectations. A chilled-out incumbent might be welcoming of the predecessor keeping contacts, hoping that it would help the team transition but an insecure leader or a ‘control-freak’ leader could misinterpret even harmless interactions as interference. I realised that while letting go is a necessary mantra of our career, one must be wise enough to assess and calibrate the process.

All said and done, letting go must become a conscious part of a professional’s attitude and approach to a career. The more lightly we hold on, the easier we will travel; the tighter we hold on, the more the emotional burden.

Among my college batchmates – we are all 70 – many have happily embraced retirement. We share old stories from our workplace. Now and then, some will announce, “I am going on a 2000 km bike ride’ or ‘I am going to do a podcast series’ or as in my case, announce ‘I am going to start sketching and painting’. My batchmates know I could not draw a proper perpendicular even with the help of the T-Square but believe I will do some art. That is a sign of stout friendship but it also signals their attitude to retirement. Only when we let go will we be able to reach out for something new.

(S Giridhar is one of the earliest members of Azim Premji Foundation.)

Published on May 31, 2026

The European Union is considering a temporary freeze to its price cap on Russian oil as the war in the Middle East continues into a fourth month, said people familiar with the matter.

The bloc adopted a dynamic mechanism last year to ensure that the price cap is automatically set every six months at 15% lower than the average market rate for Russian Urals crude. The current price threshold is $44.10 per barrel and is due for review later this summer.

Under the cap, European firms are banned from providing services such as insurance and transportation involving oil sold above the threshold.

Oil prices have soared as a result of the Iran war and the effective closure of the Strait of Hormuz. The next price cap review in July would likely see the level rise to at least $65, higher than the previous $60 threshold set collectively by the Group of Seven, said the people, who spoke on condition of anonymity to discuss private deliberations. 

The freeze would keep the price cap at the current rate. Other options under consideration include suspending dynamic and automatic increases until the end of the year in light of the exceptional circumstances in the Middle East, or capping any rise to $60 back in line with the G7 level, the people said.

The move would be part of the EU’s latest sanctions package, the bloc’s 21st since Russia’s full-scale invasion of Ukraine in 2022. The EU aims to finalize and formally propose a package of new measures in early June. Member-state envoys were briefed on the plans last week. 

Other measures under discussion for the new sanctions package include targeting more banks, oil traders, refineries and crypto operators in third countries used by Moscow to circumvent the bloc’s restrictions. As well, about 20 additional tankers would be sanctioned in the covert fleet of vessels that Russia depends on to move its oil, and eventually that regime would be extended to ships carrying liquefied natural gas, limiting the Kremlin’s ability to create a shadow fleet for LNG.

The EU has so far sanctioned hundreds of vessels and intends to also target ships providing services to the tankers, the people said.

However, the new sanctions are unlikely to include a full ban on maritime services. Several member states continue to oppose that option due to the volatility in the Middle East, and unless the measure is backed by the wider G7.

The main goals of the new package, the people said, are to further tighten the screws on Russia’s energy revenues and its financial sector, as well as starving its military industry of essential supplies. Sanctions require the backing of all member states before they’re adopted, and plans could change before that. Maritime nations such as Greece have often bristled at price-cap changes, while other capitals are particularly sensitive toward what they say are their energy and trade interests.

Other proposals for the next package include trade restrictions on some critical minerals, metals and ores used in Russia’s aerospace sector and to develop the drones it uses to bomb Ukraine’s cities, as well as technologies such as jamming.

The bloc is also considering export controls on about two dozen firms, including companies in China, India, Turkey and Central Asia, that are allegedly still supplying Russia with restricted goods found in weapons or needed to make them.

The EU is also in the early stages of assessing ways to help the clearing house Euroclear Ltd. after a Moscow court judgment allowed for the Central Bank of Russia to potentially seize its assets. That came after the EU approved the use of emergency powers to indefinitely extend a freeze on as much as €210 billion ($245 billion) in Russian central bank assets immobilized. Most of those funds are held through Euroclear.

The EU intends to keep the assets immobilized until the war ends and Russia pays reparations to Ukraine. Several member states, including Belgium, have opposed all efforts to seize the assets outright.

Discussions on introducing a visa ban on former combatants are continuing as well, the people said.

Spokespeople for the European Commission, the bloc’s executive arm that coordinates the EU’s sanctions efforts, didn’t immediately respond to a request for comment.

More stories like this are available on bloomberg.com

©2026 Bloomberg L.P.

Published on May 31, 2026

The ownership of natural diamond jewellery among Indian women has increased by 4 percentage points from 11 per cent in 2022 to 15 per cent in 2025, with Gen Z and Millennials accounting for 86 per cent of the market value, says a De Beers India Diamond Acquisition Study 2025. 

It reflects rising aspiration, accessibility, and desirability for natural diamonds in India, the study said. 

“The category’s resilience is being driven significantly by younger consumers, with Gen Z and Millennials now accounting for 86 per cent of India’s total natural diamond market value. This demographic increasingly views natural diamonds as symbols of individuality, authenticity, and emotional meaning, with consumers spending an average of ₹1,98,000 per piece,” it said. 

Seen growing at 12% CAGR

The Indian market is further projected to grow at a 12 per cent CAGR, reaching ₹1.52 lakh crore by 2030. India’s growing affinity towards diamonds is also reflected in evolving consumer preferences. 

A press release from Natural Diamonds Council (NDC) said a recent Deloitte study found that diamonds are second only to gold in jewellery material preference among 20–25-year-olds, with 58 per cent of respondents in the age group choosing diamonds. 

“This signals a significant cultural shift where natural diamonds are increasingly becoming part of everyday luxury and self-expression for younger Indian consumers,” said the release.

NDC said leading jewellery retailers, who reported that the natural diamond category is consistently outpacing overall market growth. Saurabh Gadgil, Chairman of jewellers P N Gadgil, said the company’s diamond segment grew at a remarkable 61 per cent year-on-year, significantly higher than their gold segment’s growth. 

Akashaya Tritiya sales

Malabar Gold & Diamonds Chairman MP Ahammed said diamond studded jewellery sales were up 45 per cent during the Akshaya Tritiya period this year. 

These are pointers that Indian consumers are redefining the category as an essential expression of individuality and lasting value in an era of fleeting trends.  

Richa Singh, Managing Director, Natural Diamond Council said, “In just three years, natural diamond ownership among Indian women has grown from 11 per cent to 15 per cent. Numbers like that tell us that for a growing number of Indian women, natural diamond is a deliberate choice, real, rare, and made to be passed on, an expression of who she is rather than just an occasion she marks.” 

The natural diamond’s place in India is no longer a matter of sentiment. It is a matter of record. 

She said as India’s personal disposable income is projected to grow by 11 per cent annually, the natural diamond is uniquely positioned to remain the definitive standard for luxury. 

Published on May 29, 2026