Rubber Market Ends Mixed On Weaker Regional Futures Amid Middle East Conflict

By K. Naveen Prabu

KUALA LUMPUR, March 3 (Bernama) -- The Kuala Lumpur rubber market ended mixed today, pressured by weaker sentiment in the regional rubber futures markets, a dealer said.

The dealer attributed the softer tone to the Middle East conflict, which weighed on regional rubber futures.

“The Iran conflict has disrupted global shipping and increased geopolitical risks,” she told Bernama.

However, she said further declines were limited by gains in crude oil prices.

“Oil prices rose for a third day as the widening US-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region,” she said.

At the time of writing, Brent crude oil price jumped 4.32 per cent to US$81.10 a barrel. 

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 decreased 11.5 sen to 793.50 sen per kilogramme (kg), while latex-in-bulk gained seven sen to 631 sen per kg.

-- BERNAMA