Analysts attribute a sharp drop in the price of crude oil to the unexpected outcome of the auction of Yukos' Siberian production unit yesterday. The value of the January futures contract fell 64 cents to $45.64 on the Nymex.
China announces reforms to its legal system effective in 2005, including the introduction of jury trials and a 10% increase in the number of judges. Jurors will be elected to a five-year term, and must have at least two years' university education. (BBC)(Xinhua)
U.S. Defense SecretaryDonald Rumsfeld has admitted that he had used a machine to sign letters of condolence to relatives of more than 1,000 troops killed in Iraq and Afghanistan, but pledged to sign the letters personally in future. (BBC)
In Sudan, fighting has not stopped after a ceasefire between government troops and rebels. Although the government of Sudan has said that they have stopped the Darfur offensive, there are still reports of battles. Foreign Minister Mustafa Osman Ismail rules out any withdrawal from the positions government troops have taken. An observing African Unionhelicopter was shot at. (BBC)(Iafrica)
