Mentha oil futures up on pickup in demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

At the MCX mentha oil futures for May 2018 contract was trading at Rs 1267.20 per kg up by 0.05 per cent after opening at Rs 1255.60 against the previous closing price of Rs 1266.60. It touched the intra-day high of Rs 1274.90.

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Crude oil futures edge higher on Monday

Crude oil futures edged higher on Monday with Brent crude surging to its highest level in three and a half years, as violence in the Middle East fed concerns over the flow of oil in the region. The gain for U.S. benchmark oil prices weren’t quite as impressive with traders wary of Organization of the Petroleum Exporting Countries’ (OPEC) ability to offset crude supply declines and growing U.S. production. OPEC predicted strong demand from crude oil for the next year, helping fuel crude’s modest rally. The cartel downplayed the impact of the U.S. shale boom, but warned about U.S. trade squabbles.

Benchmark crude oil futures for June delivery jumped 26 cents or 0.4 percent to settle at $70.96 a barrel on the New York Mercantile Exchange. July Brent crude surged $1.11 or 1.4 percent to settle at $78.23 a barrel on London’s Intercontinental Exchange.

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