Kuala lumpur: The Kuala Lumpur rubber market ended on a positive note today, continuing its upward momentum driven by gains in regional rubber futures, a trader reported. The market sentiment was also supported by a tightening supply of natural rubber.

According to BERNAMA News Agency, the Association of Natural Rubber Producing Countries has projected that natural rubber output in Thailand will remain flat in 2026. This projection has contributed to the bullish trend in the market. Additionally, renewed optimism regarding a potential de-escalation in the United States-Iran conflict played a role in the market's rise. Reports indicate that the US is seeking a month-long ceasefire with Iran, with mediation efforts underway by Turkey, Egypt, and Pakistan to facilitate discussions between US and Iranian officials by Thursday.

Despite these positive factors, the dealer pointed out that the market's upward trajectory faced some resistance due to falling crude oil prices. Reports suggested that the US had submitted a 15-point proposal to Iran to end the conflict in West Asia, which could potentially ease supply disruptions in the region. This development led to a drop in oil prices, with Brent crude oil declining by 5.66 percent to US$98.58 per barrel.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 had increased by 13.5 sen to 788 sen per kilogramme, while latex in bulk saw a rise of four sen, reaching 682 sen per kilogramme.