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 >

Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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 >

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 >

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 >

 

Crude oil edges lower as Fed meeting in focus


The Associated Press

The price of oil edged lower Tuesday as investors waited to see whether or not the U.S. Federal Reserve would start reducing its economic stimulus program at a key policy meeting this week.

Benchmark U.S. crude for January delivery fell 2 cents to $97.46 a barrel in electronic trading on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils, dipped 10 cents to 109.31 a barrel on the ICE exchange in London.

Investors are increasingly beginning to think that the U.S. Federal Reserve could decide to start scaling back its $85 billion in asset purchases at the meeting, which wraps up Wednesday. Such a pullback would likely result in the greenback strengthening, making commodities priced in dollars more costly for overseas investors, therefore cutting demand.

Expectations grew that the Fed would start reducing the program following some reports Monday indicating a strengthening U.S. economy. Factory output grew for a fourth straight month in November, and U.S. workers boosted their productivity at the fastest rate in the third quarter since 2009.

Energy prices are expected to remain in check over the next few years, according to an annual report by the U.S. Energy Information Administration, which forecasts that domestic oil output may rise to 9.5 million barrels per day by 2016, just shy of the 1970 record of 9.6 million barrels per day.

In other energy futures trading on the Nymex:

— Wholesale gasoline was little changed at $2.660 a gallon.

— Heating oil was little changed at 1.5 cents to $2.99 a gallon.

— Natural gas fell 0.9 cents to $4.288 per 1,000 cubic feet.

 

 

 

 

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?