BANGKOK, April 9 (Reuters) – Tokyo rubber futures ended higher on Friday on the back of firm oil prices and tight supply on the physical market, dealers said.

* The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for September delivery rose 2.4 yen to settle at 324.6 yen ($3.48) per kg. * The contract settled at 322.2 yen per kg on Thursday. On Wednesday, it rose as high as 330.3 yen, the highest since August 2008.

* Oil rose towards $86 a barrel on Friday, after falling the two previous days, as the dollar eased against several major currencies, increasing the allure of commodities such as oil. [O/R]

* “Firm oil prices and falling physical supply should provide further support to TOCOM prices next week,” one dealer said.

* The Thai government and traders said they expected the prices of benchmark Thai RSS3 to hit a record high of $4.0 per kg in April as raw material prices are likely to jump to a record of 120 baht per kg. [ID:nSGE63807S] ($1=93.35 Yen)

Source: Reuters

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