Join The Discussion

 

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.

read more >

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.

read more >

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.

read more >

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.

read more >

Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

read more >

 

Oil falls below $98 on plentiful supply

BANGKOK (AP) — Oil extended losses Wednesday on expectations U.S. crude stockpiles rose again last week because of muted demand. Financial markets also awaited the outcome of the U.S. Federal Reserve's policy meeting.

Benchmark U.S. crude for December delivery was down 51 cents at $97.69 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped 48 cents to $98.20 on Tuesday and is down about 4 percent in October.

Energy Department data due Wednesday for the week ended Oct. 25 is expected to show increases of 3.5 million barrels in crude oil stocks and 1.5 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

U.S. crude supplies rose 21.5 million barrels in the four weeks ended Oct. 18, to levels nearly 10 percent above the five-year average.

"Bad economy means bad oil prices. There's not much more to understanding the way oil moves outside of that in America," said Carl Larry of Oil Outlooks and Opinions.

The market is also waiting for Wednesday's outcome of a two-day Federal Reserve policy meeting. The Fed is expected to reinforce expectations that it won't begin reducing its mammoth monetary stimulus until next year.

Brent crude, a benchmark for international crude also used by U.S. refineries, was down 21 cents to $108.80 on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 0.1 cent to $2.59 a gallon.

— Heating oil shed 0.3 cent to $2.96 a gallon.

— Natural gas rose 1 cent to $3.639 per 1,000 cubic feet.

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?