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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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GE rises most in year with equipment order increases, including at Fort Worth locomotive unit

NEW YORK — General Electric Co. beat analysts' profit estimates in the third quarter as Chief Executive Officer Jeffrey Immelt squeezed more costs from the manufacturing units.

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Cheesecake Factory gets ready to serve; Sundance tree lighting set

The Cheesecake Factory at Sundance Square will open on Dec. 9, officials with Sundance announced today. The 8,800-square-foot restaurant - being built in the

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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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