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(Central News Agency, New Delhi, comprehensive foreign news report on the 15th) India’s state-owned oil company raised gasoline and diesel prices by more than 3% today as the war between the United States and Israel against Iran disrupted energy supplies and intensified economic pressure.
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Please agree to our privacy policy to enable news listening. (Central News Agency, Bangkok, comprehensive foreign news report on the 11th) After the war between the United States and Iran, the demand for synthetic rubber based on petroleum dropped, and the market turned to natural rubber, spurring prices to soar to a nine-year high. A tire industry source told Nikkei Asia that this may lead to a rise in tire retail prices. According to QUICK-FactSet, a business information company, the TSR20 futures price of raw rubber (also known as technically graded rubber, TSR) on the Singapore Exchange reached US$2.22 per kilogram on the 7th, setting a new high since February 2017. The price has soared by more than 20% this year. Natural rubber is an indispensable material for products such as car tires and gloves because of its strength and elasticity. Veerasith Sinchareonkul, CEO of Sri Trang Agro-Industry, Thailand’s largest rubber manufacturer, pointed out that soaring oil prices have triggered an increase in the price of synthetic rubber, which has affected demand; and because the synthetic rubber used in products such as tires and gloves can be partially replaced with natural rubber, its prices have also increased. He said that as the situation in the Middle East becomes tense, customers such as tire manufacturers continue to increase natural rubber inventories in order to control supply risks. “Normally, buyers will maintain inventory for 1 to 2 months; but now some customers may increase it to 3 months.” According to a survey by Thailand’s Bank of Ayudhya, Thailand is the world’s largest natural rubber producer, accounting for 34% of global production in 2024; China is the largest consumer, accounting for about 45% of global demand that year, reflecting its status as the world’s largest automobile tire producer. Chaiwat Sowcharoensuk, a rubber industry analyst at Ayutthaya Bank, believes that the trend of increased demand for natural rubber triggered by the US-Iran war is likely to continue. He said: “Even if (energy) supply outages ease and inventory levels return to normal over time, this structural demand shift is likely to continue as long as global energy prices remain high.” A director of a Japanese tire manufacturer produced in Thailand told Nikkei Asia that they have been paying close attention to the price increase of natural rubber since March. “We may eventually need to pass on the cost increase.” The person added that the cost of transporting rubber is also rising due to the crisis in the Middle East. (Compiled by: Zhang Zhengqian) 1150511 Support the Central News Agency’s choice to stand with the facts. Every donation you make is a small amount of support to protect press freedom. Download the Central News Agency’s “First-hand News” APP to get the latest news in real time. The text, pictures and audio and video of this website may not be reproduced, publicly broadcast or publicly transmitted and used without authorization.
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Please agree to our privacy policy to enable news listening. (Central News Agency, Washington, 10th, Comprehensive Foreign News Report) U.S. President Trump said in an exclusive interview broadcast today that Iran has been “militarily defeated” and that it only takes two more weeks for the US military to hit “every target” in Iran. Agence France-Presse reported that Trump said in an interview: “They have been defeated militarily. In their own cognition, maybe they don’t know it. But I think they know it.” He suggested that the US military may “carry out (the mission) for another two weeks and hit every target. We have some targets that were originally targeted, and we have probably solved 70% of them, but we have other targets that we expected to hit.” When talking about the North Atlantic Treaty Organization (NATO), Trump said the alliance “has proven to be a paper tiger and they are not helping.” (Compiled by: Chen Zhengjian) 1150510 Support the Central News Agency’s choice to stand with the facts. Every donation you make is a small amount of support to protect press freedom. Download the Central News Agency’s “First-hand News” APP to get the latest news in real time. The text, pictures and audio and video of this website may not be reproduced, publicly broadcast or publicly transmitted and used without authorization.
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