Rubber down

Tokyo rubber futures ended lower on Thursday, tracking falling oil prices, but firmness in share prices helped prevent rubber from falling significantly, dealers said. The Tokyo Commodity Exchange rubber contract for November delivery dropped 2 yen to settle at 191.4 yen per kg. "TOCOM prices dropped in line with weaker oil prices, but the rubber market was still supported by rising share prices," said a Bangkok-based dealer.
Brent crude slipped to a three-week low at $108 a barrel on Thursday as tensions over Ukraine cooled, while ample supply in top oil consumer United States also dragged down prices. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 85 yuan to finish at 14,210 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for July delivery was last traded at 165.8 US cents per kg, down 0.4 cent.