Oil is one of the most traded commodities on the planet. When people talk about oil prices rising or falling, they’re usually referring to the price of crude oil, which is a benchmark for energy markets and impacts everything from gasoline prices to heating costs. USOIL is a common ticker symbol that tracks the price of West Texas Intermediate crude oil, widely used in the United States. Understanding what drives its price can seem complicated, but it becomes clearer once you break down the factors at play.

Supply and demand

At a basic level, oil pricing works like any other market: supply and demand. When supply exceeds demand, prices tend to fall. When demand outpaces supply, prices rise. Supply comes from countries and companies producing crude, while demand is largely driven by industrial activity, transportation needs, and global energy consumption patterns.

Production levels fluctuate for several reasons. Oil-producing countries might decide to cut output to boost prices or increase production to gain market share. Natural events like hurricanes can temporarily shut down refineries or oil rigs. And regarding the other side – demand – economic growth in major countries increases energy use, pushing prices higher. Conversely, recessions or periods of slower growth can reduce demand.

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Geopolitical events

Politics also affects oil prices. Conflicts in oil-rich regions can disrupt production or transport, creating uncertainty and often driving prices up. Diplomatic relations and trade agreements can change how oil moves around the globe; sanctions on major producers can limit supply and influence the market. Even domestic policies in major oil-consuming countries can impact demand through regulations or incentives for alternative energy sources.

Market sentiment and speculation

Crude oil prices are not only affected by physical supply and demand but also by traders’ expectations of the future. Futures contracts allow traders to buy or sell oil for delivery later on. If traders believe that supply will tighten or demand will increase, they might push prices higher even before the actual change occurs. Conversely, fears of oversupply or weakening demand can depress prices. Traders can use a crude oil trading platform, such as Exness, to react quickly to these market signals.

US dollars

Because oil is traded globally in US dollars, fluctuations in the dollar’s value impact oil prices. When the dollar strengthens, oil becomes more expensive for buyers using other currencies, which can reduce demand and push prices lower. When the dollar weakens, oil prices often rise as it becomes cheaper internationally. Traders often watch currency movements closely alongside oil markets.

Inventory levels

Oil inventories, which measure how much crude is stored in tanks and terminals, sometimes provide insight into the supply-demand balance. Rising inventories generally suggest that supply is outpacing demand, which tends to lower prices. Falling inventories indicate higher consumption relative to production, often pushing prices up. Weekly reports from organizations like the U.S. Energy Information Administration offer updates that traders use to anticipate price movements.

OPEC decisions

The Organization of Petroleum Exporting Countries, or OPEC, is a group of oil-producing nations that coordinate production levels to stabilize or influence prices. OPEC decisions are watched by the market because even small production changes from these countries can impact global supply. OPEC also works with non-member countries to manage output, affecting prices further.

Seasonal factors

Oil demand is not constant throughout the year. In colder months, heating oil consumption rises in some regions, while in the summer, gasoline use typically increases due to travel and vacations. These seasonal shifts can create predictable fluctuations in oil prices. Traders often factor in these patterns when analyzing markets and planning trades.

Weather and natural disasters

Severe weather events like the hurricanes – mentioned previously – floods, or earthquakes can disrupt oil production and transportation. For instance, storms in the Gulf of Mexico can shut down offshore rigs or refineries, temporarily reducing supply. Unexpected supply interruptions tend to push prices up, especially if investors believe the disruption could last for some time.

Technology

Advances in drilling technology and extraction techniques can influence the cost of producing oil, which in turn affects pricing. For example, innovations in hydraulic fracturing and horizontal drilling have made it economical to access previously untapped reserves. Lower production costs can increase supply, potentially lowering prices, while higher costs or technical setbacks can limit output and increase prices.

Global economy

Economic indicators – GDP growth, manufacturing activity, and employment data – can indicate that oil demand is likely to change. Strong economic data typically suggests higher energy consumption, which can support rising prices. Weak or slowing economic data may imply reduced energy needs.

Relationships with other commodities

Oil prices often move in relation to other commodities. For example, when natural gas prices rise, some energy consumers switch to oil, increasing demand. Similarly, inflation or changes in the cost of raw materials can influence production costs, which may ripple through oil prices.

Keeping track of prices and trends

Other charts like the Ethereum live chart – available on the same platforms that track oil, including Exness – allow traders and analysts to compare different assets, understand correlations, and spot trends. Ethereum isn’t directly linked to oil, but observing how markets interact can provide additional insight into investor sentiment and risk appetite. Combining this with data from crude oil trading platforms can create a more complete picture of market dynamics.

Government policies and regulation

Policies related to drilling, export restrictions, and environmental regulations can directly affect oil production costs and availability. Tax incentives or subsidies for alternative energy sources may reduce oil demand over time. Traders watch these policies because even small regulatory changes can affect the market.

Transportation

A large portion of oil consumption comes from transportation, including cars, trucks, planes, and ships. Shifts in transportation patterns (e.g. increased air travel, changes in shipping routes) influence oil demand. Rising global trade normally increases shipping demand, which can boost oil consumption and influence prices.

Macroeconomics

Oil prices are also sensitive to overall market sentiment and macroeconomic uncertainty. Fears of economic slowdowns, geopolitical tension, and financial instability can prompt traders to adjust positions in oil markets. Even if supply and demand remain relatively balanced, perception and expectation can create price swings.

In short, understanding USOIL price movements requires looking at a combination of these factors. Analyzing these elements alongside live charts can help make sense of the sometimes volatile nature of oil pricing.

When the COVID-19 pandemic struck Kenya in 2020, so many people found themselves in the middle of a financial crisis primarily due to job losses.

Statistics indicate that over two million Kenyans lost their jobs as the government laid down stringent measures to curb the killer disease. So many companies shut down operations while others turned to remote working and social media sales.

The good sides of the pandemic is that it unearthed innovative ways for businesses and individuals to make money as people turned to social media platforms to market their crafts, as the government minimized physical interactions.

For Maureen Kinyanjui, the pandemic was a turning point as through it, she found the perfect career path. Maureen, a media personality, revealed that she lost her job during the pandemic after being declared redundant.

She would later embark on job search before a colleague introduced her to online jobs. Today, she works as a copywriter for international clients.

As a remote worker, Maureen had over the years struggled to find a perfect work station until a friend introduced her to Wojo in Nairobi Upper Hill.

“I used to work from the house before, but after getting a kid, the house became work-unfriendly. So I started working from Java, but the distractions were unbearable,” she said.

“A former colleague later introduced me to Wojo in Upper Hill.  I wasn’t entirely sure what to expect. I had used co-working spaces before but Wojo quickly established itself as more than just a desk and Wi-Fi,” she added.

According to her, Wojo stood out due to the calm atmosphere. It had that quiet hum with people focused and an overall sense of flow that made her want to settle down and get things done.

“For someone who thrives on an environment that isn’t too loud or too sterile, Wojo hit the sweet spot,” she added.

She adds that the space is reliable in terms of accessibility, Comfort, high-speed internet, and security.

“The general work areas are comfortable, well-lit, and properly air-conditioned—another underrated but crucial feature in Nairobi’s heat. I’ve found it easy to stay focused for long stretches without feeling drained or stuffy.”

With her work involving a mix of collaborative sessions and private calls, Wojo’s soundproof call booths have been helpful to Maureen. She uses the booths whenever she needs to make a call with a client or record a quick voice note without worrying about background noise.

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Moreover, Maureen says Wojo’s most unexpected perk has been the partnership with Mercure Hotel right next door, as she is able to squeeze in a gym or swimming session without disrupting her work schedule.

“And then there are the discounts. Whether I’m grabbing lunch, or booking a quick stay for a weekend reset, the dining and accommodation discounts at Mercure have added a touch of affordability and comfort to my routine. It feels like Wojo extends beyond the workspace into a more holistic lifestyle ecosystem.”

The space has further provided a networking opportunity for Maureen, as she is able to meet and interact with professionals in various fields, including celebrities, entrepreneurs, and remote workers.

Among the known individuals she has interacted with is media personality Dr. King’ori, who records his shows from the establishment.

“What makes Wojo stand out for me is the sense of balance. It’s professional but warm, structured but flexible, quiet but alive. I’ve met interesting people, which I find as a plus for my career,” she added.

Wojo’s offerings include co-working spaces, private offices and meeting rooms with unique features and experience that suit each user’s specific needs. Pricing varies depending on the type of workspace, contract length, and level of access.

To book your space, contact the Wojo team via 0723 708714

Media personality Kizito Namulanda has revealed how he lost his job at Standard Media Group while undergoing cancer treatment.

In a narration, Kizito revealed that he was diagnosed with stage 3 laryngeal cancer 4 years ago, which led to a permanent voice disability.

He added that the battle worsened when he was served with a termination letter from his employer while still fighting the killer disease.

“In 2022, I faced a life-changing challenge: a diagnosis of cancer of the voice box. The journey was grueling, especially after my employment was terminated in a manner that made the struggle even harder,” he said.

According to the broadcast journalist, it all started with hoarse voice  but he assumed it could have been as a result of a certain lifestyle.

However, an encounter with Engineer Peter Nduati’s wife Ruth Nduati was a wake-up call after she advised him to go for a medical checkup.

“I remember she asked me, “Kizito, what is happening to your voice? Have you had it checked out?” I hadn’t, assuming the hoarseness might be due to drinking too much dawa (ginger, lemon, and honey), or perhaps I had COVID-19 but managed to shrug it off. I had heard stories about hoarseness lasting a long time, but she insisted I needed to see an ENT specialist,” he narrated.

After a medical checkup, the doctors served him with bad news that he had voice box cancer that had progressed to stage 3.

“I had read that most often this type of cancer is caused by heavy smoking, yet I had never smoked even half a cigarette in my life. I wasn’t a heavy drinker either. I had always been health-conscious eating well and going to the gym.”

“From my Google searches, I learned that patients with this cancer who progress to stages 3 and 4 typically live, on average, for a maximum of six months. I had heard of cases where people deteriorated quickly and succumbed within six months of diagnosis. I could not imagine it. Later I learned that my disease had progressed to stage 3,” he added.

Completely shattered, Kizito began treatment and, with support from his family, flew to India for treatment at Max Super Specialty Hospital in Delhi.

As his condition deteriorated, he underwent a partial laryngectomy, a surgery that entails the removal of a part of a voice box.

“Dr. Hazarika later explained that the operation was extremely complex—one that many doctors usually avoided – but he took it on because he really wanted to save my voice so I could continue earning a living as a broadcast journalist.”

After the operation, he was discharged to recuperate in Nairobi while still continuing with his job at Standard Media Group.

“Recovery was a very rough journey, particularly the first month, when I could only feed through pipes. After returning to Nairobi, I required regular trips to New Delhi for follow-up treatment, which I still make to this day.”

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Tragedy struck three months later when he was served with a termination letter after 19 years of working at the Mombasa Road-based media station.

According to Kizito, he was unaware of any retrenchment process in his department until a colleague called him to say he had received a termination notice.

He initially delayed collecting the letter hoping the company would reconsider, only to be emailed the official termination notice.

“I was completely shaken and confused, but an inner voice urged me to prioritise what mattered most, my health. After receiving favourable medical results, I returned to Nairobi to plead my case, but the company stood firm,” he added.

Kizito said Standard Group offered severance pay in 10 monthly installments rather than a lump sum.

He requested a faster payout due to his medical condition, but was told nothing would be discussed until he signed the termination letter. He was also warned that delaying the signature would result in him losing the first installment.

Desperate, he signed, but 14 months later, he says the company has still not settled the remaining severance.

“I have written several emails to explain how badly I need this money to get me out of my current financial strain that is threatening to take me back, but I still haven’t gotten any breakthrough,” he said.

The journalist says his journey has taught him two powerful lessons: that God never forsakes those who put their trust in Him, and that when life presents many battles, one must choose carefully which ones to fight.

Kizito took over as Head of Convergence at Standard Group in December 2020, where he was tasked with ensuring that the broadcasting, print, and digital divisions work in harmony and under the same editorial command.

He joined the organization as a News Editor in August 2005 from Mwananchi Communications Limited in Dar es Salaam Tanzania.