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Bridge collapse on I-35 north of Austin

SALADO, Texas (AP) — Emergency crews are responding to a reported bridge collapse along an interstate in Central Texas.

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Amazon begins Prime Now program in Dallas area

If you just have to have it now, as in one hour, you can, at least in the Dallas area, as Amazon.com Inc. announced Thursday it will offer Prime Now.

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Latin-inspired restaurant set to open in downtown Fort Worth

Downtown Fort Worth’s dining scene is about to get spicier with the opening of a new restaurant featuring Latin-inspired coastal cuisine.

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Texas jobless rate falls as employers add workers

Texas unemployment fell to 4.3 percent during February for the sixth straight month of declines, the Texas Workforce Commission reported Friday.

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Westchester Plaza manager says "business as usual" for now

The future of a redevelopment plan for the 50-year-old Westchester Plaza on Fort Worth's Near Southside is unclear.

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Oil falls below $106 ahead of Fed policy meeting 


PAMELA SAMPSON, AP Business Writer

 

BANGKOK (AP) — The price of oil fell below $106 a barrel Tuesday, anticipating that the U.S. Federal Reserve's two-day policy meeting will end with an announcement to scale back its unprecedented monetary stimulus.

Benchmark oil for October delivery was down 81 cents to $105.78 per barrel at early afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.62 to close at $106.59 on Monday.

The U.S. central bank has been on a bond-buying spree that has pumped the economy full of money, pushing down interest rates and making loans more easily available. The aim of all that was to spur lending, growth and investment. Global stocks and commodities surged.

But recent data has shown the U.S. is slowly recovering from the severe downturn that followed the collapse of Lehman Brothers in 2008, convincing Fed members that it might be time to wind down the stimulus program. Oil markets have reacted negatively to the prospect.

"Tapering might derail the recovery, and if that happens, there is less growth and then less demand for commodities like oil," said Stan Shamu, market analyst at IG in Melbourne, Australia.

The contract for November delivery for Brent crude, the benchmark for international crudes used by many U.S. refineries, fell 51 cents to $109.56 a barrel in London.

In other energy futures trading in New York:

— Wholesale gasoline fell 0.5 cent to $2.701 per gallon.

— Natural gas rose 2.4 cents to $3.762 per 1,000 cubic feet.

— Heating oil fell 1.1 cents to $3.053 per gallon.

 

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