Peppermint essential oil has naturally-occurring antispasmodic properties. It is effective for treating a wide range of digestive complaints, such as easing irritable bowel syndrome, cramping or stomach spasms and pain. According to Martin, peppermint oil has a antispasmodic effect on smooth muscle, so it is also useful at treating bronchial spasms and coughing. You can also use peppermint oil to relieve nausea and congestion.