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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 dips below $103 as diplomacy on Syria advances

PAMELA SAMPSON, AP Business Writer

BANGKOK (AP) — Oil prices fell Friday, a day after the U.N. Security Council made progress in the quest to get Syria to relinquish its chemical weapons.

Benchmark oil for November delivery fell 34 cents to $102.69 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

The council's five permanent members on Thursday agreed to a resolution calling for Syria to get rid of its chemical weapons. That helped ease fears of an escalation in Syria's civil war since the U.S. has been threatening to attack Syria in retaliation for what Washington says was a chemical gas attack by forces loyal to President Bashar Assad against civilians in suburban Damascus.

The prospect of an attack, and the potential for a disruption in oil supply routes, caused oil prices to spike in recent weeks. Prices have gradually fallen in recent days as diplomacy over Syria advanced. The progress at the U.N. on Thursday maintained the downward trend on the price of oil, said Ken Hasegawa, energy analyst at Newedge Brokerage in Tokyo.

Upbeat news about the U.S. economy pushed prices higher Thursday. The contract for benchmark crude gained 37 cents Thursday to close at $103.03 a barrel on the New York Mercantile Exchange. Oil had dropped $5.41, or 5 percent, over the five previous trading sessions.

Oil prices rose as data showed that the number of Americans seeking unemployment benefits fell 5,000 last week to a seasonally adjusted 305,000, the second-lowest level in six years. The U.S. economy, meanwhile, was confirmed to have grown an annualized 2.5 percent in the April-June period.

Brent crude, the benchmark for international crudes used by many U.S. refineries, fell 13 cents to $109.08 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline rose 1.6 cents to $2.6903 per gallon.

— Natural gas rose marginally to $3.57 per 1,000 cubic feet.

— Heating oil fell less than 0.1 cent to $2.9927 per gallon.

 

 

 

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