Kuala lumpur: The Kuala Lumpur rubber market concluded the day with higher prices, driven by gains in regional rubber futures and firmer crude oil prices, a dealer reported. The upward movement was bolstered by positive economic data from the United States and China's commitment to enhancing financial support for domestic consumption.

According to BERNAMA News Agency, market sentiment was tempered by diminishing hopes for an agreement to reopen the Strait of Hormuz and ongoing geopolitical tensions in West Asia. The dealer noted that oil prices experienced an uptick as the prospects for a deal to reopen the strategic waterway waned.

Brent crude prices increased by 2.54 percent, reaching US$89.95 per barrel by the time of reporting. In the rubber market, the price of Standard Malaysian Rubber 20 (SMR 20) rose by six sen to 910 sen per kilogram, while latex in bulk saw an increase of 1.5 sen to 692.5 sen per kilogram at 3 pm.