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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 prices drop after Iran nuclear deal

BANGKOK (AP) — Oil prices sank Monday as a nuclear deal between Iran and six world powers made it more likely that the sanctions choking Iranian oil exports will eventually be lifted.

Brent crude, a benchmark for international oils, was down $2.53 at $108.52 a barrel at midafternoon Bangkok time in electronic trading on the ICE futures exchange in London. Benchmark U.S. crude fell $1.54 to $93.30 on the New York Mercantile Exchange.

After marathon negotiations in Geneva, Iran on Sunday reached an agreement with the U.S., Britain, France, Russia, China and Germany to limit enrichment of uranium to 5 percent, far below the level needed for nuclear weapons.

Iran got limited relief from sanctions that have hobbled its economy, but an embargo on its oil exports remains in place while negotiations continue for a more enduring deal to ensure the country only uses nuclear technology for peaceful purposes such as power generation.

If Iranian oil returns to international markets, the additional supply is likely to make crude less expensive.

"With new (U.S.) domestic output capacity coming on line, plus the potential reemergence of Iranian barrels coming onto the global market, the table is set for lower prices over the longer term," energy analyst Stephen Schork said in a market commentary.

Benchmark U.S. crude is down from about $110 in October because of ample supplies and muted demand.

In other energy futures trading on Nymex:

— Wholesale gasoline dropped 5.5 cents to $2.656 gallon.

— Heating oil shed 5.4 cents to $2.985 a gallon.

— Natural gas added 6.2 cents to $3.83 per 1,000 cubic feet.

 

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