West Texas Intermediate for August delivery
fell 4 cents to end at $52.74 a barrel on the New York Mercantile Exchange.
Prices slid 7.4% this week. While Brent for August settlement rose 12 cents to
$58.73 a barrel on the London based ICE Futures Europe exchange, down 2.6% this
week. The International Energy Agency has forecast global oil demand growth to
slow to 1.2 million barrels a day in 2016, compared to an average of 1.4
million barrels a day this year.
Benchmark TOCOM rubber futures extended
losses during the week, as weaker oil prices and worries about slumping
Shanghai futures prompted investors to unwind long positions.
In June 2015, natural rubber production in
India fell by 20.63% to 50,000 tonnes from 63,000 tonnes, while consumption also
dropped by 3.85% to 82,000 tonnes from 85,285 tonnes in July 2014. Natural
rubber imports in July marginally increased by 0.69% to 33,606 tonnes from a
year earlier.
The benchmark RSS4 grade rubber closed at `.125
a kg at Kottayam, while RSS3 grade closed at `.105.29 a kg at
Bangkok and Malaysian SMR20 closed at `.92.15 a kg. On
National Multi Commodity Exchange July 2015 futures closed at `.123.69
a kg, August at `.125.12 and September at `.124.98 a kg. Tokyo
Commodity Exchange ended the week in negative, July 2015 futures series closed
at ¥197 a kg, August at ¥199.6, September at ¥203.8, October at ¥206.2,
November at ¥208.4 and the contract for delivery in December 2015 closed at ¥211
a kg.
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