Japan Futures Extend Gains for Fourth Day on Oil Rally
Japan Futures Extend Gains on Oil Rally
Japanese rubber futures extended gains for a fourth consecutive session on Thursday, tracking higher crude oil prices after fresh U.S. strikes on an Iranian military site. Oil prices jumped about 2% in early trading.
Osaka Exchange and Shanghai Futures
The Osaka Exchange (OSE) rubber contract for October delivery rose 0.12% to 412.3 yen per kg. The Shanghai Futures Exchange (SHFE) September contract remained flat at 17,520 yuan per metric ton.
Natural rubber often tracks oil prices as it competes for market share with synthetic rubber, which is made from crude oil.
Japan Stock Market and Other Commodities
Japan's share market struggled for direction for a second day amid concerns about the Middle East crisis and technology sector valuations. The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery fell 1.2% to 219.5 U.S. cents per kg.
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