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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 falls to near $102 a barrel

The Associated Press

The price of oil slipped Tuesday as expectations of a buildup in U.S. crude inventories dampened sentiment.

Benchmark U.S. crude for April delivery was down 49 cents to $102.33 a barrel at 0755 GMT in electronic trading on the New York Mercantile Exchange. The contract gained 62 cents to $102.82 on Monday.

Oil rose Monday as another cold spell for the U.S. Midwest and Northeast was expected to boost demand for heating oil at a time when many refineries are undergoing seasonal maintenance.

Supplies, however, also appeared to be robust with weekly crude stocks on a rising trend. Investors are waiting for a weekly U.S. stockpile report due later this week that is likely to show further gains.

Some analysts expect oil prices to drop in the spring, when many refineries will be carrying out maintenance work, which is temporarily accompanied by lower oil demand.

Jitters over a slowdown in China also added to fears that global economic growth could weaken, which would reduce demand for gasoline, diesel and jet fuel.

Brent crude, which is used to set prices for international varieties of crude, fell 45 cents to $110.19 on the ICE exchange in London.

In other energy futures trading in New York:

— Wholesale gasoline fell 0.6 cent to $3.001 per gallon.

— Heating oil was up 0.5 cent at $3.046 a gallon.

— Natural gas lost 11.4 cents to $5.331 per 1,000 cubic feet.

 

 

 

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