Oil prices fell as
markets opened the week cautiously following western air strikes in Syria and
as American drilling for new production continued to rise. The United States,
France and Britain launched 105 missiles on 14th April, targeting what they
said were three chemical weapons facilities in Syria in retaliation for a suspected
poison gas attack in Douma on 7th April. Asia began cautiously after the
weekend stikes, while oil markets also came under pressure from a rise in U.S.
oil drilling activity.
President Vladimir Putin
warned on 15th April that further Western attacks on Syria would bring chaos to
world affairs, as Washington prepared to increase pressure on Russia with new
economic sanctions. Investors
continued to worry about the impact of a wider conflict in the Middle East.
The benchmark RSS4 grade rubber closed at `.120
a kg at Kottayam, while RSS3 grade closed at `.111.95 a kg at
Bangkok and Malaysian SMR20 closed at `.91.39 a kg. On
National Multi Commodity Exchange April 2018, the futures closed at `.119.79
a kg, May at `.120.21 a kg, June at `.122.31 a kg and July
closed at `.123.21 a kg. Tokyo Commodity Exchange April 2018 futures
series closed at ¥174.9 a kg, May at ¥178.7, June at ¥183.5, July at ¥185.4,
August at ¥185.3 and the contract for delivery in September closed at ¥184.8 a
kg. On Monday, most probably Tocom futures contract for delivery in September
2018 may trade in the range of ¥180 & ¥185 a kg.
