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 above $104 per barrel after China data

File art

PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — The price of oil rebounded Friday following a sharp sell-off sparked by expectations the U.S. Federal Reserve will soon start withdrawing its unprecedented monetary stimulus.

Benchmark crude for September delivery was up 74 cents to $104.14 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 97 cents to at $103.40 on Thursday.

Oil fell as low as $102.22 before trimming its losses late Thursday after the U.S. Labor Department said the number of people who applied for unemployment benefits dropped to the lowest level since November 2007. While the news was positive, it drove up speculation that the Fed would start phasing out measures that have kept long-term interest rates at record low levels.

The Fed's policies have sparked investment in riskier assets such as stocks and oil. But comments from Fed officials this week indicate the central bank may be ready to begin reducing its monthly purchases of $85 billion in bonds soon as September.

Positive economic news from China on Thursday and Friday also underpinned the oil price.

The world's No. 2 economy reported Friday that July's producer prices — the price of goods as they leave factories — fell less rapidly than a year earlier, a sign that demand may be improving. The official Xinhua News Agency said retail sales grew 13.2 percent in July from a year earlier, slightly down from June. Industrial production grew 9.7 percent, up from June's 8.9 percent and the highest year-on-year growth in five months.

On Thursday, customs data showed increases in both exports and imports for the month, beating market expectations.

Brent crude, traded on the ICE Futures exchange in London, rose 55 cents to $107.23 a barrel.

In other energy futures trading on Nymex:

— Heating oil rose 0.7 cent to $2.965 a gallon.

— Natural gas rose 1.6 cents to $3.313 per 1,000 cubic feet.

— Wholesale gasoline rose 2 cents to $2.877 a gallon.

 

 

 

 

< 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?