Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, had fallen amid worries over demand after hitting a more than two-month high of 211.2 yen a week earlier following a fire outbreak at a warehouse in China.
The Tokyo Commodity Exchange rubber contract for May delivery finished 1 yen higher at 204 yen (US$1.80) per kg.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 90 yuan to finish at 14,165 yuan (US$2,140) per tonne.
Brent oil prices jumped 1.5% on Tuesday to their highest since mid-2015, after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market already tightening due to OPEC-led production cuts.
The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 142.40 US cents per kg, down 0.7 cent.
(US$1 = 113.3800 yen)
(US$1 = 6.6205 Chinese yuan renminbi)