Kuala lumpur: The Kuala Lumpur rubber market concluded with mixed results on Monday, tracking the performance of regional rubber futures markets, as reported by a dealer.

According to BERNAMA News Agency, market sentiment was influenced by decreased benchmark crude oil prices and weaker United States economic data. This occurred amid expectations of an improved supply outlook in major producing countries like Thailand and Indonesia. Japanese rubber futures experienced a decline on Monday, driven by lower crude oil prices and optimism over a possible US-Iran peace deal. The oil prices dropped to two-week lows on Monday, fueled by hopes for a potential US-Iran peace agreement, despite ongoing tensions in the Strait of Hormuz.

At the time of reporting, Brent crude oil prices had decreased by 4.8 percent to $98.57 per barrel. The dealer noted that market sentiment was also impacted by the stronger ringgit against the US dollar. The local currency strengthened to 3.9635/9705 against the greenback at 8 am, up from Friday's close of 3.9655/9700.

The dealer further mentioned that despite the pressures, losses were limited due to improved market sentiment, fueled by optimism regarding potential US-Iran peace discussions. By 3 pm, the price of Standard Malaysian Rubber (SMR) 20 increased by 1.5 sen to 890.5 sen per kilogram, while latex-in-bulk saw a decline of two sen to 763 sen per kilogram.