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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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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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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.

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Podcasting superstar from 'Serial' coming to Fort Worth

If you hear yourself hearing a certain haunting theme in early August as you pass the Omni Fort Worth Hotel, don’t be alarmed.

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Oil prices bolstered by severe US cold snap

KUALA LUMPUR, Malaysia (AP) — The price of oil rose Tuesday, with unusually cold weather in the U.S. expected to fuel demand.

Benchmark U.S. oil for February delivery was up 27 cents to $93.70 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 53 cents to settle at $93.43 a barrel on Monday.

Brent crude, used to set prices for international varieties of crude, rose 66 cents to $107.39 in London.

Crude prices were bolstered by the cold wave in the U.S., the world's top oil consumer, as consumption of heating oil is expected to surge.

Dangerously cold polar air snapped decades-old records, spreading Tuesday from the Midwest to southern and eastern parts of the U.S. and eastern Canada. Many cities came to a virtual standstill, with flights cancelled and schools and businesses shuttered due to the severe cold.

Forecasters said some 187 million people in all could feel the effects of the "polar vortex" by the time it spreads across the country.

In other energy futures trading:

— Wholesale gasoline rose 1.5 cents to $2.661 a gallon.

— Natural gas added 3.3 cents to $4.339 per 1,000 cubic feet.

— Heating oil was up 1.7 cent to $2.956 a gallon.

 

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