The Double-Edged Sword: Falling Oil Prices and Regional Impacts – By Hemantha Yapa Abeywardena Source : oilfutures The price of crude oil slightly increased as the weekend approached, something that has been attributed to the rising tension in the Middle East between Israel and Hezbollah, the Shite military group in Lebanon.   As of 18:00 GMT, the prices of WTI and Brent were at $81.58 and $86.46 respectively. The price of LNG, liquified natural gas, meanwhile, was at $2,60. The US crude stocks, against all odds, rose again during the last week, deviating from the draw that was reported a week ago. It raises the prospect of feeble demand that has been the case for months; this is rather unexpected in the US, the world’s top consuming nation of the fossil fuels, despite the onset of the summer driving season. The fact that the price of oil slightly went up despite the ...

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Stagnating Oil Prices: can OPEC+ ever provide the crucial spark? – By Hemantha Yapa Abeywardena   www.oilfutures.co.uk   Source : oilfutures The members of the OPEC+, who met virtually last week, decided to leave the production cuts unchanged, perhaps in light of stagnating oil prices.  Having failed to shore up the prices by tinkering with the supply side of the oil equation, the de facto leader of the organization, Saudi Arabia, even the raised the price of its flagship Arab Light crude for Asian buyers for the third successive time, while inadvertently leaving the loyalty of the old customers in the region on the line. Although the Kingdom had been in the habit of raising the price of oil for this particular domain in the recent past, only to bring it down a few weeks later, judging by the frequency of price rises, it may not happen very soon this time. ...

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Miraculous Eco Tablet – By Dr Tilak S. Fernando There was much controversy about a tablet that was supposed to mix with petrol which would give an extra percentage of consumption over ten times, on 92 and 95 grades. An advertising Agency or Manufacturing company became quite popular with this innovative tablet. Consequently, almost every motorist was compelled to use this Eco tablet since the fuel prices went up to rocket levels. However, The Minister of Power and Energy introduced a QR- code system to obtain petrol from all filling stations, which reduced the mile-long queues where people had to wait in lines, sometimes overnight. Finally, Petroleum Corporation investigated the eco tablet at Sapugaaskanda and Kolonnawa laboratories adopting their methods and concluded that there was no difference in the octane ratings. This was quite contrary to what the marketing or the manufacturing company maintained. Initially, the advertising or manufacturing company ...

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