FX.co ★ Rubber Futures Up to Near 2-Week High

Rubber futures climbed to nearly 197 US cents per kilogram, the highest level in close to two weeks, supported in part by higher oil prices amid uncertainty surrounding a possible de-escalation of the Middle East conflict. In addition, tight naphtha supplies have constrained butadiene production, driving up synthetic rubber prices and bolstering demand for natural rubber as a substitute. Seasonal low output among major Southeast Asian producers from February to May is also underpinning prices ahead of the main harvest period from June to September.