RUBBER-Japan futures fall on firmer yen, tumbling oil prices

June 24 (Reuters) -

• Japanese rubber futures fell on Tuesday, due to a strengthening yen and weaker oil prices as tensions in the Middle East eased.

• The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: closed down 7 yen, or 2.33%, at 293.4 yen ($2.02) per kg.

• The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 weakened 220 yuan, or 1.58%, to 13,665 yuan ($1,903.92) per metric ton.

• The most active July butadiene rubber contract on the SHFE SHBRv1 slumped 355 yuan, or 3.06%, to 11,230 yuan ($1,564.66) per ton.

• The dollar weakened 0.47% against the yen JPY=EBS. USD/

• A stronger currency makes yen-denominated assets less affordable to overseas buyers. FRX/

• Oil prices tumbled about 5% after Israel agreed to U.S President Donald Trump's ceasefire proposal with Iran. O/R

• Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

• Still, Japan's Nikkei .N225 rose more than 1%, following Trump's announcement.

• Flash floods in Thailand ended a second consecutive decline in Japan rubber on Monday, said broker Hexun Futures.

• Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations that could lead to flash flooding from June 24-27.

• China's auto industry has inflated car sales for years through registering new cars right off the assembly line and then shipping them overseas as "used" vehicles, Reuters reported.

• This is allowing production to outpace demand, driving a protracted domestic price war in the world's largest car market.

• The front-month rubber contract on Singapore Exchange's SICOM platform for July delivery STFc1 last traded at 159.1 U.S. cents per kg, down 1.2%.

($1 = 7.1773 Chinese yuan)

($1 = 145.1000 yen)