BANGKOK, Feb 10 - Tokyo rubber futures jumped to a new record on Thursday, on the back of speculative buying due to concerns of tight supply and firmer oil prices.
* The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for July delivery rose 9.9 yen to settle at 513.9 yen per kg. It rose as high as 515.0 yen per kg, its highest ever.
* U.S. crude oil futures inched higher on Thursday amid ongoing concerns about unrest in Egypt, while a weaker dollar helped Brent rise above $102 a barrel. [ID:nL3E7DA02K]
* Dealers said TOCOM prices were expected to rise further on Friday on the back of strong demand and thin supplies as dry weather cuts supply in producing countries.
* TOCOM rubber was expected to rise further to test new resistance of 520 yen per kg, with the 500 level being seen as a strong psychological support level, they said. (Reporting by Apornrath Phoonphongphiphat; Editing by Jason Szep)
(Source: http://asia.news.yahoo.com/rtrs/20110210/tap-markets-asia-rubber-c3bb44c.html)
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