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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 price rises on Nigeria supply woes, US growth

 

The Associated Press

The price of oil rose Friday amid signs of stronger economic growth in the U.S. and possible disruptions to Nigerian crude exports.

Benchmark U.S. crude for May delivery was up 20 cents to $101.48 a barrel at 0740 GMT in electronic trading on the New York Mercantile Exchange. The contract gained $1.02 to $101.28 on Thursday.

Concerns are growing in energy markets about supply from Nigeria, which produces about 2.5 million barrels of oil daily, after reports of sabotage at a pipeline, where leaks have forced Shell Nigeria to halt exports from its Forcados terminal since March 4.

Meanwhile, the recovery in the U.S. economy signals greater demand ahead. The Commerce Department raised its economic growth estimate for the last quarter of 2013 to 2.6 percent from 2.4 percent, largely because of higher consumer spending.

Brent crude, a benchmark for international varieties of oil, fell 13 cents to $107.70 on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline was down 0.5 cent at $2.935 a gallon.

— Heating oil fell 0.4 cent to $2.939 a gallon.

— Natural gas advanced 0.8 cent to $4.546 per 1,000 cubic feet.

 

 

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