Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
Brent falls towards $57 as demand concerns outweigh supply disruptions (Seng Li Peng, Reuters) Early Wednesday trading (31 December 2014) saw crude oil prices slipping lower again after Tuesday produced a slight rebound from a sharp decline on Monday. Prices fell despite fires destroying millions of barrels iof oil in Libya. (See article under Libya in reading list below.) U.S. inventory numbers also depressed oil prices. See next article.
NYMEX-U.S. crude falls to $53.55 on US export permission, stock build (Meeyoung Cho, Reuters) The U.S. reported an unexpected increase in crude oil inventories, the Obama administration issued two policy guidance statements expected to increase significantly oil exports by the U.S. and global crude oil prices continued to move lower. Read also Obama administration issues guidance on oil exports (Jennifer A. Dlhouy, Hearst Newspapers, Alaska Dispatch News)
Articles about events, conflicts and disease around the world
AisiaAir Flight 8501
Searchers Pull AirAsia Plane Debris and Bodies From Java Sea (The New York Times)
Who Will Get AsiaAir 8501’s Black Boxes? (The Daily Beast)
AsiaAir owner bought company for less than a buck (Associated Press, New York Post)
Where Does Ebola Come From? (Scientific American)
Libya in $6 mln push to tackle oil port fires (Reuters, Al Arabiya)
Libya's losses mount as oil terminal burns (Daniel J. Graeber, UPI) This Monday report says about 1.8 million barrels lost ($100 million worth) and fires have continued since.
Libyan oil output shrinks further as oil tanks blaze (Times of Malta) Libya currently shipping only 128,000 barrels a day, about 1/3 of shipments earlier this year and 8% of output before the 2011 civil war.
First air strikes hit Libya’s militia-held Misrata (AFP, Al Arabiya)
Europe Braces for Economic Fallout as Greece Heads to Early Elections (The New York Times)
Greece’s threat to the European economic recovery (American Enterprise Institute)
Hardships frustrate Greeks as recession persists (USA Today)
The Econiomics of Normalization with Cuba: Kiss the Embargo Goodbye? (War on the Rocks)
Do not miss "Other Economics and Business Items of Note", the final section every day.
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