Global oil prices rise to multi-month high levels over falling US inventories, rising demand


New Delhi, Sep 27 | The start of the week has brought fresh gains for the crude market as oil has rallied on signs of a tightening market amid a global energy crunch.

Crude oil futures increased on Monday over dwindling inventories with US stockpiles near a three-year low while demand picking up rapidly post the pandemic waves and projections suggesting that it would be stronger than expected in the near term.

Disruptions in the US Gulf Coast production following Hurricane Ida and other storms have led to sharp draws in the American and global inventories.

West Texas Intermediate or WTI for November delivery advanced 1.5 per cent to $75.07 a barrel on the New York Mercantile Exchange, while Brent for November settlement added 1.4 per cent to $79.18 a barrel on the ICE Futures Europe exchange.

Global crude prices have gained almost 80 per cent level in last one year and more than 45 per cent in first six months of 2021. At the current $79 a barrel, Brent crude is already at multiple month high and set to breach two and half year high rate of $80 a barrel soon.

The projections for crude prices has also maintained positive growth. Analysts are now maintaining that Brent crude may be around $80 a barrel in the third quarter of 2021 with further gains upto $10 a barrel to $90 a barrel in later parts of the year. A Bank of America projection puts crude at over $100 mark by summer of next year.

Higher crude means more petro dollar spend by India as it has to import more than 80 per cent of its domestic requirements. The rising demand for oil on the country is also a concern as together it could jack up the country’s oil import bill.

The country’s crude oil imports has already risen l to a three-month peak in August, rebounding from a near one-year low hit in July. Crude oil imports last month rose 15.8 per cent versus July and were also 3.1 per cent higher than a year-ago at 17.39 million tonnes, according to PPAC.

Source: IANS

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Recruitment Mantra to introduce its new job portal MyhireIndia for a seamless recruitment process

Recruitment Mantra to introduce its new job portal MyhireIndia for a seamless recruitment process

India witnessed massive downfall in the employment rate in the year 2020. Not only have the youth been denied equal job opportunities, but some of the upcoming job trends have also failed the modern age individuals.

Today, job sites are the most widely used portals used by individuals across the globe to find the right job that meets the qualification requirements. Every job is one search away. These portals have transformed the recruitment process to provide seamless and unified  experience to individuals.

Crediting the same, Recruitment Mantra is going to introduce their own job portal named to enable recruiters and individuals find the best job as per their requirement. The portal will enable employers to post unlimited jobs in this portal and hire the right talented candidates as per their requirements at free of cost. Jobseekers can register and upload their CV in this portal free of cost and can also search and apply for unlimited job openings through this portal.

Emerging as one of the best job sites in India that acts as a bridge between recruiters and job seekers, the platform has uniquely been curated to serve as a comprehensive for both students and young professionals looking for employment opportunities in their preferred location.

As one of the best job portals in India, MyhireIndia allows its users to search for either internship or job opportunities within a few clicks. The company review section enables the users to go through the reviews from the companies registered on the platform to get a glimpse of the work-life at the firm behind the curtain.

  • Keyword search: The keyword search function available on job search sites allows users to look for his/her preferred jobs in a single-click just by typing in the job keyword like retail jobs, media, pharmacy job, etc. on the keyword search bar.
  • User-friendly interface: The job site is developed for the key purpose of making job searches easier for its users. A user-friendly interface allows users to browse through job opportunities in his/her preferred areas of life without losing his/her focus in doing the same.
  • Options to filter preferences: The filters available on the job site allow users to filter out their job preferences exactly according to their needs and requirements. You can filter out your job search with your location, salary, job type, and other preferences.
  • Easy application process: If a job site has a complicated application option for jobs, it will automatically receive backlash for its services. The platform serves an easy application option to users, allowing them to apply for jobs within minutes.


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