The Trading Room

American Petroleum Institute data showed U.S. crude oil stocks fell by 815,000 barrels in the week ended Dec. 10, according to market sources

The derivatives segment on the Nairobi Securities Exchange (NSE) posted gains in activity with 4 single stock futures contracts valued at Kes 194,620 concluded.

Chinese stocks declined on Tuesday, tracking other losses in Asia-Pacific markets, as the omicron variant returned to focus. Meanwhile, bitcoin prices continued to tumble after some losses overnight.

Still, the Organization of the Petroleum Exporting Countries raised its world oil demand forecast for the first quarter of 2022 and stuck to its timeline for a return to pre-pandemic levels of oil use.

Global markets were mixed this week, with downs at the beginning of the week with equity markets later rebounding, after two weeks of losses.