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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 hovers near $100 on hopes of US recovery


The Associated Press

Oil hovered near $100 a barrel Monday on hopes that the U.S. economic recovery can be sustained despite January's poor payrolls report.

Benchmark U.S. crude for March delivery was down 9 cents to $99.79 a barrel at 0830 GMT in electronic trading on the New York Mercantile Exchange. Oil gained $2.04 to close at $99.88 on Friday.

The Labor Department reported that 113,000 jobs were created in January, far below market expectations of 175,000 jobs. This followed a weak 75,000 jobs created in December.

But unemployment dipped to 6.6 percent, the lowest rate since the global financial crisis hit in late 2008, and more people sought jobs. It suggested that people are feeling better about their prospects and that hiring was depressed by the bad weather.

The mixed data also saw some investors hoping that the Federal Reserve may put off plans to further reduce its stimulus.

Brent crude, used to set prices for international varieties of crude, fell 53 cents to $109.04 a barrel on the ICE Futures exchange in London.

In other energy futures trading in New York:

— Wholesale gasoline added 0.6 cent to $2.743 a gallon.

— Heating oil shed 1.2 cents to $3.039 a gallon.

— Natural gas lost 6.5 cents to $4.71 per 1,000 cubic feet.

 

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