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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 price above $100 on China credit growth


The Associated Press

The price of oil extended gains above $100 a barrel Monday as a rebound in Chinese credit growth suggested steady demand in one of the world's largest petroleum consumers.

Benchmark U.S. crude for March delivery was up 47 cents to $100.77 a barrel at 0630 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 5 cents to close at $100.30 a barrel Friday.

Favorable credit growth numbers from China suggested its economy is avoiding a sharp slowdown, which would keep demand for energy steady.

Lending by Chinese banks and in the largely unregulated underground market rebounded to 2.6 trillion yuan ($430 billion) in January from December's 1.2 billion yuan, according to the central bank. Lending usually surges at the start of a new year but January's rise exceeded forecasts and might help to ease worries about cooling retail sales, manufacturing and other activity.

Brent crude, which is used to set prices for international varieties of crude, was down 1 cent to $109.07 on the ICE Futures exchange in London.

In other energy futures trading in New York:

— Wholesale gasoline rose 2.2 cents to $2.970 a gallon.

— Heating oil added 2.9 cents to $3.019 a gallon.

— Natural gas gained 16.6 cents to $5.389 per 1,000 cubic feet.

 

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