COMMODITY MENTHAOIL & NATURAL GAS MARKET UPDATE

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Menthaoil trading range for the day is 1021.1-1039.9.Mentha oil spot at Sambhal closed at 1143.90 per 1kg. Spot prices was down by Rs.-2.70-.Mentha oil prices dropped amid muted demand in the domestic spot market.Further, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too influenced mentha oil prices.Pressure also seen on prices on the speculation the area under cultivation can incerese this year resulting good production.

 

Naturalgas trading range for the day is 204.8-215.6.Natural gas struggled to hold its gain despite data showed that natural gas supplies in storage in the U.S. fell.EIA said in its weekly report that natural gas storage in the U.S. declined by 152bcf in the week ended February 3Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns.

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