By Aya Takada Feb. 3 (Bloomberg) -- Rubber retreated from a one-week high as crude oil declined, weakening the appeal of the commodity as an alternative to synthetic products. Futures in Tokyo dropped as much as 0.4 percent after earlier reaching the highest level since Jan. 26 on signs of recovery in the global economy. Raw materials climbed after reports yesterday showed pending home sales in the U.S. strengthened in December and vehicle sales climbed 6.3 percent in January. Oil fell after an industry report showed a larger-than- expected increase in crude stockpiles in the U.S., the world’s biggest energy consumer. Synthetic rubber is made from naphtha, distilled from petroleum. “Rubber took a cue for direction from oil,” Hisaaki Tasaka, an analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone. “Rubber is still on an upward trend as economic growth is stimulating demand.” Rubber for July delivery was at 282.7 yen per kilogram ($3,127 a metric ton) on the Tokyo Commodity Exchange at 12:15 p.m. local time, a gain of 0.1 percent. Crude oil for March delivery dropped as much as 0.6 percent to $76.78 a barrel on the New York Mercantile Exchange. The contract last traded at $76.90, having jumped $2.80 to $77.23 yesterday, the biggest gain since Sept. 30. Pending home sales in the U.S. rose 1 percent in December and were 11 percent higher than a year earlier, the National Association of Realtors said in Washington yesterday. Car and truck sales in January rose to an annual rate of 10.8 million, 13 percent higher than a year earlier, researcher Autodata Corp. said yesterday. That beat the average estimate of 10.5 million among eight analysts surveyed by Bloomberg. May-delivery rubber on the Shanghai Futures Exchange rose 1.7 percent to 23,345 yuan ($3,420) a ton at 11:15 a.m. local time. Prices fell to 22,250 yuan on Feb. 1, the lowest level since Dec. 16. To contact the reporter on this story: Aya Takada in Tokyo atakada2@bloomberg.net

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