Join The Discussion

 

New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

read more >

Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

read more >

Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

read more >

Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

read more >

Fort Worth firm 'simplifies' advertising

Reaching customers requires more than price slashing and flashy ads. In today’s competitive marketplace, machines – not men and women – are essential to tapping new markets and

read more >

Oil near $109 on supplies drop, Fed stimulus


PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — The price of oil rose Thursday after the U.S. Federal Reserve kept its monetary stimulus in place and U.S. oil supplies fell more than expected.

Benchmark oil for October delivery was up 61 cents to $108.68 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

Prices spiked Wednesday after the Federal Reserve unexpectedly maintained its stimulus for the U.S. economy and the Energy Department reported a bigger than expected drop in supplies of crude oil and gasoline. The contract climbed $2.65, or 2.5 percent, to close at $108.07.

The Fed was widely expected to begin winding down its program of buying $85 billion a month in bonds and other assets. Instead, the central bank said it will maintain the pace of the bond purchases because it thinks the economy still needs the support.

Global stocks and commodities have surged as the new money generated by the unconventional program flowed through the financial system. Stocks rose sharply Wednesday following the Fed's announcement. The Standard & Poor's 500 and the Dow Jones industrial average jumped to all-time highs.

Both the U.S. Energy Department and the American Petroleum Institute said supplies of crude oil fell for the week ending Sept. 13.

The Energy Department said supplies by 4.4 million barrels last week, almost three times more than analysts expected, to 355.6 million barrels. The API said supplies fell by 298,000 barrels to 359.2 million barrels.

Brent crude, the benchmark for international crudes used by many U.S. refineries, was up 29 cents to $110.89 a barrel on the ICE Futures exchange in London.

In other energy futures trading in New York:

— Wholesale gasoline rose 0.1 cent to $2.728 per gallon.

— Natural gas rose 2.2 cents to $3.735 per 1,000 cubic feet.

— Heating oil rose 0.9 cent to $3.05 per 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?