Kuala lumpur: The Kuala Lumpur rubber market ended lower on Thursday, affected by declines in regional rubber futures markets and a stronger ringgit against the US dollar amid mixed developments surrounding the West Asia conflict, a dealer said. The market sentiment was further dampened by the hawkish stance of US Federal Reserve officials, reinforcing concerns that interest rates could remain higher for longer.

According to BERNAMA News Agency, the minutes of the Fed's late-April meeting showed that an increasing number of policymakers were considering interest rate hikes amid rising inflation. Despite these pressures, further losses in the rubber market were limited by gains in crude oil prices and encouraging developments in the European Union automotive sector, particularly in electric vehicle demand.

Oil prices saw an uptick on Thursday as investors kept an eye on peace talks between the United States and Iran, with supply tightness and US inventory drawdowns providing additional support. At the time of writing, Brent crude oil rose by 0.91 percent to US$105.97 per barrel.

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 fell by seven sen to 887 sen per kilogramme, while latex-in-bulk declined by three sen to 767.5 sen per kg.