Kuala Lumpur: The Malaysian rubber market experienced a slight decline on Wednesday, influenced by the decrease in crude oil prices and the strengthening of the ringgit against the US dollar, as reported by a market dealer.

According to BERNAMA News Agency, the benchmark Brent crude oil price was recorded to be 0.72 percent lower at US$69.98 per barrel at the time of writing. The dealer highlighted that market sentiment was also cautious due to uncertainties surrounding US interest rate decisions and concerns over instability in the Middle East.

US Federal Reserve policymakers are anticipated to maintain current rates and are expected to release new economic projections upon the conclusion of their meeting later in the day. Despite these factors, further losses in the rubber market were limited by low rubber supply and mixed trends in regional rubber futures markets, as mentioned by the dealer.

The Malaysian Rubber Board reported that the Standard Malaysian Rubber (SMR) 20 decreased slightly by one sen to 870.5 sen per kilogram, while latex in bulk fell by 1.5 sen to 691.5 sen per kilogram as of 3 pm.