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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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Oil marches past $108 on favorable economic data

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PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — Oil prices breezed past $108 per barrel Friday, with traders emboldened by record highs on Wall Street and data showing an upswing in U.S. factory output.

Benchmark crude for September delivery rose 67 cents to $108.56 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $2.86 a barrel Thursday, or 2.7 percent, to close at $107.89 a barrel on the Nymex on Thursday.

Oil prices are being fueled by the same optimism that pushed Wall Street to new highs Thursday. The Standard & Poor's 500 index and the Dow Jones industrial average both set record highs, and the S&P 500 crossed the 1,700 mark for the first time.

The Institute for Supply Management, a trade group of purchasing managers, said its index of U.S. manufacturing jumped to 55.4 in July, up from 50.9 in June and well above an expected reading of 51.8. A number above 50 indicates growth.

On Friday, hiring figures for July will be released, then examined for hints about future energy demand in the world's No. 1 economy.

In a commentary, Michael Hewson of CMC Markets said that report "could well add the final flourish to a record week, and a perfect start to August."

Brent crude, traded on the ICE Futures exchange in London, rose 50 cents to $110.04 per barrel.

In other energy futures trading on the Nymex:

— Heating oil was up 0.9 cents to $3.1055 a gallon.

— Natural gas fell 3 cents to $3.362 per 1,000 cubic feet.

— Wholesale gasoline rose 0.2 cents to $3.0305 a gallon.

 

 

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