Rubber Market Ends Mixed Amid Lower Oil Prices, Stronger Ringgit
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, May 23 (Bernama) -- The Malaysian rubber market closed mixed today, weighed down by declining crude oil prices and a firmer ringgit against the US dollar, a dealer said.
She told Bernama that market sentiment was also influenced by movements in regional rubber futures markets.
As of 5.10 pm, Brent crude oil prices had declined by 0.76 per cent to US$64.04 per barrel. At the time of writing, the local currency strengthened to 4.2285/4.2350 against the greenback, compared to Thursday's close of 4.2705/2765.
'Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible output hike by the Organisation of the Petroleum Exporting Countries Plus (OPEC+) in July.
'Thailand's meteorological agency also warned farmers of possible crop damage, adding that heavy rains and accumulation may cause flash floods from May 23–27, 2025,' said the dealer.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR 20) decreased by 4.50 sen to 740.50 sen per kilogramme (kg), while latex in bulk rose five sen to 627.0 sen per kg.
-- BERNAMA
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