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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 prices drop in Asia on demand expectations


The Associated Press

Oil prices fell in Asia on Thursday as expectations for reduced demand due to warmer weather outweighed a smaller-than-expected increase in U.S. oil supplies.

Benchmark U.S. crude for April delivery was down 31 cents to $102.28 a barrel at 0610 GMT in electronic trading on the New York Mercantile Exchange.

The contract closed up 76 cents Wednesday at $102.59 after the U.S. Energy Department said crude oil supplies rose by 68,000 barrels last week, well below the increase of 1.5 million barrels expected by analysts surveyed by Platts. Supplies at the key storage point in Cushing, Okla., fell by 1.1 million barrels.

The inventories figures pointed to resilient demand but oil shed some of those gains Thursday as the approach of spring in the U.S. and weaker Chinese manufacturing could reduce crude consumption.

Investors will be watching for new policy initiatives from China's annual legislative session in early March to see what steps the government might take to shore up growth.

Brent crude, which is used to set prices for international varieties of crude, shed 26 cents to $109.25 on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline was down 0.2 cent at $2.983 per gallon.

— Heating oil shed 0.4 cent to $3.035 per gallon.

— Natural gas lost 3.2 cents to $4.509 per 1,000 cubic feet.

 

 

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