Kuala lumpur: The Kuala Lumpur rubber market closed higher on Tuesday, supported by steady crude oil prices and mixed trends in regional rubber futures, a dealer said.

According to BERNAMA News Agency, Japanese rubber futures rose for an eighth straight session today, supported by firm downstream demand. Downstream demand for rubber has remained positive, while supplies of raw materials from major overseas producing countries have not been smooth.

The dealer highlighted that the oil prices remained steady after a more than two per cent jump in the previous session, as markets assessed supply risks linked to Russia-Ukraine tensions and peace talks. Despite this, traders remained cautious ahead of key US policy signals from the Federal Reserve minutes due later in the day.

Further gains were capped by a slightly stronger ringgit against the US dollar, as well as uncertainty over future US rate cuts and recent geopolitical developments in the Middle East. At 3 pm, Standard Malaysian Rubber (SMR was noted.