Kuala lumpur: The Kuala Lumpur rubber market concluded lower on Wednesday, influenced by softer crude oil prices and varied performances in regional rubber futures markets, a dealer reported.

According to BERNAMA News Agency, Singapore rubber futures showed gains, whereas rubber futures on the Shanghai exchanges experienced declines.

Crude oil prices have been on a downward trajectory for three consecutive sessions. This trend is attributed to the improving relations between the United States and Iran, coupled with the resumption of tanker traffic through the Strait of Hormuz, which has alleviated concerns over potential disruptions in energy supply. At the time of reporting, Brent crude had decreased by 1.96 percent, priced at US$75.57 per barrel.

Meanwhile, Japanese rubber futures exhibited range-bound trading. This was supported by the European automotive sector's demand, which continued to positively impact market sentiment. However, the dealer noted that concerns over possible further Federal Reserve tightening and new automobile policies in California added pressure to market sentiment.

In the United States, factors such as resilient consumer spending, persistent core inflation, and tight labor markets have reinforced expectations of additional Federal Reserve tightening, especially ahead of the anticipated Personal Consumption Expenditures (PCE) price index release. Additionally, major automakers have expressed concerns that vehicle sales in California might be impacted if new vehicle-tracking regulations are implemented without delay, potentially influencing automotive market dynamics.

Despite these pressures, the market's losses were somewhat mitigated by stronger-than-expected U.S. manufacturing and services data, along with robust demand from the European automotive sector. By 3 pm, the price of Standard Malaysian Rubber (SMR) 20 had decreased by 3.5 sen to 940.5 sen per kilogram, while latex-in-bulk saw a reduction of three sen to 789.5 sen per kilogram.