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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 rises ahead of US supply report 


The Associated Press

The price of oil rose Wednesday before the release of the latest report on U.S. supplies and minutes from the U.S. Federal Reserve's April policy meeting.

Benchmark U.S. crude for July delivery was up 56 cents to $102.90 a barrel at 0550 GMT in electronic trading on the New York Mercantile Exchange. It gained 22 cents to $102.33 on Tuesday.

Brent crude, a benchmark for international oil, was up 4 cents to $109.73 a barrel on the ICE exchange in London.

Traders are watching for analysis of the U.S. economy from the Fed. Meanwhile, fresh information on U.S. stockpiles of crude and refined products is also due later Wednesday.

Data for the week ended May 16 is expected to show a decline of 300,000 barrels in crude oil stocks and an increase of 150,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

In other energy futures trading in New York:

— Wholesale gasoline was down 0.5 cent to $2.956 a gallon.

— Natural gas fell 2.2 cents to $4.53 per 1,000 cubic feet.

— Heating oil was flat at $2.946 a gallon.

 

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