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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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American Airlines' first 787 Dreamliner arrives at D/FW

American is preparing the plane to begin service sometime in the second quarter.

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Oil rises above $107 after US crude supplies dip 


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PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — The price of oil rose above $107 per barrel Thursday after U.S. crude supplies fell in a possible sign of stronger demand.

Benchmark crude for September delivery was up 45 cents to $107.30 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents to close at $106.85 on Wednesday.

The latest supply reports showed a drop in U.S. crude inventories. The American Petroleum Institute said supplies dropped by nearly 1 million barrels to 365.3 million barrels for the week ending Aug. 9. The U.S. Energy Department said crude oil supplies fell by 2.8 million barrels, about double what analysts expected.

The dollar also fell against the yen and the euro, a move that supports oil prices. Crude, traded in dollars, becomes a more attractive investment for holders of other currencies when the dollar falls.

Brent crude, traded on the ICE Futures exchange in London, rose 41 cents to $109.23 a barrel.

In other energy futures trading on Nymex:

— Heating oil rose 0.8 cent at $3.056 a gallon.

— Wholesale gasoline rose 0.8 cent to $2.856 a gallon.

— Natural gas fell 0.8 cent to $3.335 per 1,000 cubic feet.

 

 

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