The key Tokyo Commodity Exchange rubber contract for June delivery settled up 3.9 yen at 276.8 yen ($3.60) per kg, above the key 25-day moving average at 275 yen. "The market rose after news of possible Thai government intervention. The bottom price is rising, and we think the key contract could test the 300-yen mark in the not too distant future," a trader said. Thailand could buy up to 200,000 tonnes of unsmoked rubber to push up prices to 120 baht ($3.79) per kg, from around 95 baht now, after protests from farmers over low prices, government and farmers' officials said on Wednesday. The most active Shanghai rubber contract for May delivery also climbed, closing up 1.3 percent at 25,275 yuan ($4,000) per tonne. Volume stood at 892,958 lots. Brent crude slipped below $113 on Wednesday as Europe's debt crisis and expectations of a rise in oil inventories in the United States for the third straight week overshadowed concerns of supply disruptions from Iran and Nigeria.