The Trading Room

OPEC+ supply constraints and the ongoing increase in global oil demand will likely keep oil prices well supported in the coming months.

Benchmark 10-year U.S. Treasury yields touched a two-year peak, while the dollar hit a six-day high earlier in the session, making gold expensive for overseas buyers.

Some oil producers within the Organization of the Petroleum Exporting Countries (OPEC) are struggling to pump at their allowed capacities, due to underinvestment and outages.

The derivatives market of the NSE recorded a marginal decline in activity compared to Tuesday’s trading with 9 single stock futures valued at Kes 383,650.

With oil prices above $80 a barrel, there is growing political pressure for the White House to lobby OPEC+ to hit their production quotas.