Kuala Lumpur: The Malaysian rubber market ended mixed today amid an uptrend in the regional rubber futures markets and gains in oil prices.

According to BERNAMA News Agency, a dealer mentioned that oil prices gained more than US$1 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to boost output had previously sent prices down. Despite this rebound, concerns about an oil surplus outlook continued to persist.

Further gains in the rubber market were limited by US tariff volatility and the ongoing China-US trade war. The dealer also highlighted that the US services sector’s growth saw an uptick in April, with the non-manufacturing purchasing managers index (PMI) increasing to 51.6 from 50.8 in March.

Additionally, it was noted that the China Caixin/S and P Global services purchasing managers’ index (PMI) experienced a decline to 50.7 from 51.9 in March, marking its lowest reading since September.

At 3 pm, the Malaysian Rubber Board reported changes in rubber prices: the price of Standard Malaysian Rubber (SMR) 20 increased by 14.0 sen to 743 sen per kilogramme (kg), while the price of latex in bulk decreased by 3.0 sen to 601.50 sen per kg.