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UPDATE: Could American Airlines move its headquarters?

A key linchpin in the Fort Worth economy, American Airlines Group Inc., is considering sites for a new headquarters, possibly outside the city, the airline’s CEO said this morning.

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Clip art: Cutting edge barbershop creates a buzz in Fort Worth

Jonathan Morris is on a mission to create a better grooming experience for men.

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Grocers, retailers flocking to Southlake

With its economic development engine revving at full throttle, Southlake is about to welcome several major retail and commercial projects that underscore its image

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Great Woman of Texas; Stacie McDavid

“I’ve always been a maverick in a number of ways,” says businesswoman and philanthropist Stacie McDavid.

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It's Christmas tree time in the city of Fort Worth

Sundance Square will kick off the holidays with the lighting of the Christmas on Nov. 22 featuring a visit from a resident of the North Pole, musical and theatrical entertainment, as well as photo opportunities throughout the plaza.

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Oil stays below $104 despite China factory growth


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PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — A rebound in China's manufacturing couldn't boost the price of oil Thursday as traders braced for the Federal Reserve to start phasing out its monetary stimulus.

Benchmark oil for October delivery was down 5 cents to $103.80 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped $1.26 to close at $103.85 a barrel on the New York Mercantile Exchange.

HSBC Corp. said the preliminary version of its monthly China purchasing managers' index rose to 50.1 for August, a sharp improvement from July's 47.7 reading. Numbers above 50 indicate an expansion in activity.

The improvement in China's factory output was overshadowed by expectations that the Federal Reserve will begin to reduce its monetary stimulus because the U.S. economy is showing signs of improvement.

The program was intended to push down interest rates and spark investment, but also weighed on the dollar's value. However, the dollar has crept up in recent days amid expectations that the Fed will gradually reduce its purchases of Treasurys and other bonds.

Michael Hewson of CMC Markets said oil prices "have stayed under pressure" as the dollar firms.

When the dollar rises, oil gets more expensive for foreign currency holders and thus losses some of its investment appeal.

Falling U.S. crude inventories, which suggest stronger demand for oil, also failed to boost prices. For the week ended Aug. 16, stockpiles of crude feel by nearly 1.2 million barrels to 364.1 million barrels, according to the American Petroleum Institute.

Brent crude, which is used to set prices for imported oil used by many U.S. refineries, fell 21 cents to $109.60 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

— Heating oil fell 0.5 cent to $3.077 per gallon.

— Natural gas rose 0.7 cent to $3.467 per 1,000 cubic feet.

— Wholesale gasoline was little changed at $2.819 per gallon.

 

 

 

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