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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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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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Oil drops below $99 on China slowdown jitters

 

The Associated Press

The price of oil dropped below $99 a barrel Wednesday as the possibility of a deeper economic slowdown in China fed expectations of weaker demand.

Benchmark U.S. crude for April delivery was down $1.34 to $98.70 at 1030 GMT in electronic trading on the New York Mercantile Exchange. The contract dropped $1.09 to close at $100.03 a barrel Tuesday.

China's lower exports in February have fueled worries of a further slowdown in the world's second-largest economy, which would tamp down demand for energy. China's economic growth of 7.7 percent last year was the lowest in two decades.

Oil prices have been dropping after being pushed higher last week by fears that Russia's military incursion into the Crimean peninsula might lead to U.S. and European sanctions on one of the world's largest energy suppliers. Expectations of larger U.S. stockpiles and potential weaker demand as winter ends later brought futures back down.

Brent crude, used to set prices for international varieties of crude, was down 65 cents to $107.23 on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline was down 2.1 cents at $2.946 a gallon.

— Heating oil was down 2.4 cents at $2.937 a gallon.

— Natural gas was steady at $4.606 per 1,000 cubic feet.

 

 

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