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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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Ukraine jitters push oil above $100

The Associated Press

 

Oil rose above $100 per barrel on Monday amid renewed tensions over Ukraine.

Benchmark U.S. crude for June delivery was up 13 cents to $100.12 a barrel at 0650 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 27 cents to close Friday at $99.99.

Brent crude, a benchmark for international varieties, added 37 cents to $108.26 in London. In the previous session, the contract shed 15 cents to $107.89.

Traders are worried about turmoil in Ukraine and disruption of oil exports from Libya despite muted demand and plentiful supplies.

"The fears are that separatists in Ukraine involving Russian complicity could ratchet up instability in Eastern Europe," said Mizuho Bank in a report.

Pro-Russian insurgents who organized controversial referendums in two regions of eastern Ukraine say about 90 percent of voters have backed their calls for sovereignty. The Ukrainian and Western governments have condemned the balloting as a sham and a violation of international law.

Traders worry Russian energy exports could be interrupted if further instability in Ukraine results in stronger Western sanctions.

In other energy futures trading in New York:

— Wholesale gasoline added 0.8 cent to $2.904 a gallon.

— Heating oil gained 1.1 cents to $2.918 a gallon.

— Natural gas fell 1.2 cents to $4.519 per 1,000 cubic feet.

 

 

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