Join The Discussion

 

RadioShack sees stock jump on investment report

Fort Worth-based RadioShack saw its stock increase as much as 45 percent on Friday as investor Standard General LP said it was continuing talks on new financing for the electronics retailer.

read more >

Fort Worth couple gets in 'Shark Tank,' comes out with deal

A Fort Worth couple who started a business when they couldn’t sleep, were the first entrepreneurs to get a deal on ABC’s Shark Tank in the season premiere on Sept. 26.

read more >

20 from Dallas-Fort Worth on Forbes wealthiest list

There are 20 Dallas-Fort Worth residents listed among the 400 richest Americans, according to the Forbes 400 list of The Richest People in America 2014.

read more >

Internal audit says EPA mismanaged Fort Worth project

FORT WORTH, Texas (AP) — An internal audit by the U.S. Environmental Protection Agency reveals the agency mismanaged an experiment using new ways to demolish asbestos-ridden buildings.

read more >

Texas Wesleyan acquires two strip shopping centers on East Rosedale

Texas Wesleyan University has purchased two strip shopping centers on East Rosedale Street across from its Southeast Fort Worth campus, the university’s president said Friday.

read more >

Oil rises toward $104 ahead of Fed statement
 

file art

PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — The price of oil staged a modest recovery Wednesday, a day after hitting a four-week low, but traders say bigger gains would likely be short-lived.

Benchmark oil for August delivery was up 42 cents to $103.50 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.47 Tuesday to finish at $103.08 per barrel, the lowest closing price since July 3.

Traders are waiting to see if the Energy Department will report another draw in oil supplies after a surprisingly large drop of 30 million barrels over the past month. However, oil supplies remain high compared with the five-year average, and that will constrain the price of crude.

"Energy prices have been supported in recent weeks by renewed optimism about global demand and a revival of concerns about the geopolitical situation in the Middle East. However, we do not expect this to last," Jessica Hinds of Capital Economics said in a commentary.

"On the demand side, although US crude stocks have fallen by more than expected recently, we would be wary of placing too much weight on this development," Hinds said.

Later Wednesday, the Federal Reserve will give an updated assessment of the U.S. economy when it wraps up a two-day meeting in Washington. The government will release the first reading of second-quarter gross domestic product growth. Analysts expect the economy expanded more slowly last quarter compared with the 1.8 percent growth reported for the first three months of the year.

On Friday the release of employment data for July will be examined for hints about future energy demand in the world's No. 1 economy.

Brent crude, which is traded in London, fell 50 cents to $106.41.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 2.7 cents to $2.948 a gallon.

— Heating oil fell 1.4 cents to $2.996 a gallon.

— Natural gas rose 1 cent to $3.442 per 1,000 cubic feet.

 

 

< back

Email   email
hide
Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?