I was wrong about oil prices in my last post.
So oil prices did jump over the weekend but were not reflected in the Oil-Price.net charts on Monday in Malaysia, which was still Sunday in the United States. I guess Oil-Price.net was off for the weekend
The prices of Brent Crude and West Texas Intermediate did jump as is shown in the latest screen cap below.
I looked at another oil-price site - Oil Price.com which was active over the weekend and showed that the price of Brent Crude had jumped, though it had pulled back to U.S.$66.93 and it looks like the prices on Oil Price.com are more current, since the price of Brent Crude shown is delayed by 18 minutes.
The price of Brent Crude is relevant to Malaysia, not oil prices on other indexes.
The site also has a chart showing the price of Brent Crude.
However, how long this this spike in oil prices will last is left to be seen, since like shares on stock markets, oil prices are also subject to market sentiment, which can be emotionally or opportunistically ("make a quick buck" traders) driven, hence erratic.
If the reduction in oil output from Saudi Arabia is soon made up for by output from other sources, then oil prices should stabilise and likely return to a more realistic market value.
Meanwhile, the share price of STAR Media Group has been on a downtrend
It closed at 55.5 Malaysian sen on Friday 13th September 2019. Notice the descending triangle indicated by the blue lines.
And here is the the price movement zoomed in.
As of today STAR's share price was down to 55.0 Malaysian sen
I bought one lot of STAR shares back in the 1990s at an Employees Share Option Scheme (ESOS) price of RM3.10 per share (or RM3,100 per lot of 1,000 shares), though I had sold them off in 2010 when the price was still pretty good but today - well it's become a penny stock.
This is a testimony to the future of news media and to the future of journalism as a viable paying career upon which journalists can make a living on.
Basically, as media readership increasingly goes online and digital, advertsing revenue on online and digital media is much lower that print advertsing revenue, and with the general trend observed in the United States, for print advertsing revenue to decline at about 10 times as online and digital advertsing revenue are rising, it's not sustainable for media organisations and for the future of journalism as a viable paying career, especially when there is stiff competition for advertising revenue from Internet giants such as Google and Facebook, as you can see in the chart below showing the plight faced by newspapers in the US since 1999 when Internet penetration in the US enabled online and digital media to challenge newspapers for readership and advertisingrevenue.
Yours truly
Politischeiss
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