Kuala lumpur: The rubber market closed lower today due to weaker regional rubber futures, said a trader. She noted that market sentiment was also impacted by the United States Federal Reserve's hawkish policy outlook.

According to BERNAMA News Agency, the Fed maintained a cautious stance by holding rates steady, with Chair Jerome Powell highlighting that inflation risks remain elevated amid rising energy prices. Additionally, three policymakers expressed dissent against the Fed's easing bias.

The trader mentioned that further losses in the rubber market were limited by the rise in crude oil prices. Oil prices increased on Thursday following a report that the US is considering potential military action against Iran to resolve a deadlock in negotiations aimed at ending the war. This development has heightened concerns about additional supply disruptions in the already constrained West Asia exports.

At the time of writing, Brent crude saw a 2.75 per cent increase, reaching US$121.3 per barrel. At 3 pm, the Standard Malaysian Rubber (SMR) 20 price decreased by 0.5 sen to 859 sen per kilogramme, while latex-in-bulk dropped by three sen to 751 sen per kilogramme.