(Updates with closing levels)

SINGAPORE, March 13 (Reuters) -

* Japanese rubber futures reversed earlier losses to sustain

a

seven-day rally on Wednesday, amid higher oil prices and weather

woes in top producer Thailand.

* The Osaka Exchange (OSE) rubber contract for August

delivery

closed up 1.4 yen, or 0.43%, at 328.4 yen

($2.23) per kg, the highest close since Feb. 1, 2017.

* The contract logged gains for a seventh straight

session, the longest rally since Jan. 26.

* The rubber contract on the Shanghai Futures Exchange

(SHFE) for

May delivery rose 85 yuan to finish at 14,200 yuan

($1,974.64) per metric ton.

* Oil prices rose on expectations of strong global

demand,

including in the world's top consumer the United States, and as

even somewhat sticky U.S. inflation did not significantly alter

expectations the Fed might start cutting rates soon.

* Natural rubber often takes direction from oil prices as it

competes for market share with synthetic rubber, which is made

from crude oil.

* Thailand's meteorological agency warned of hot weather in

various regions from March 13-19.

* Tesla's expansion into Southeast Asia is a

priority, a

senior executive said on Tuesday, highlighting the fast-growing

market where the U.S. electric vehicle maker faces competition

from China's BYD.

* Toyota Motor ( TM ) agreed to give factory

workers

their

biggest pay increase

in 25 years on Wednesday, heightening expectations that

bumper pay raises will give the central bank leeway to make a

key policy shift next week.

* Japan's Nikkei share average

fell for a third straight session

as investors assessed the likelihood of a policy shift

at next week's Bank of Japan meeting.

* The Japanese yen traded nearly flat at 147.73

against the

dollar.

* The front-month rubber contract on the Singapore

Exchange's

SICOM platform for April delivery last traded at 162.1

U.S. cents per kg, up 0.12%.

($1 = 147.5400 yen)

($1 = 7.1912 Chinese yuan renminbi)