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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 steady at $102 after China, US data

 

The Associated Press

The price of oil was steady near $102 a barrel Tuesday after an improvement in Chinese manufacturing was offset by reduced consumer spending in the U.S.

Benchmark U.S. oil for July delivery was down 7 cents to $102.40 a barrel at 0900 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents to $102.47 on Monday.

Brent crude, a benchmark for international oils, was down 31 cents to $108.52 a barrel in London.

Energy demand from China was likely to stay solid as a second survey confirmed that China's manufacturing improved last month. But there were still worrying signs for the U.S. economy as a government report showed last week that Americans unexpectedly spent less in April, a possible drag on growth.

The HSBC index, based on a survey of Chinese factory purchasing managers, climbed to 49.4 last month from 48.1 in April. On Friday, the U.S. Commerce Department said consumers cut back on spending in April for the first time in a year.

In other energy futures trading on Nymex:

— Wholesale gasoline dipped 0.7 cent to $2.943 a gallon.

— Natural gas slipped 1.5 cents to $4.597 per 1,000 cubic feet.

— Heating oil fell 0.7 cent to $2.87 a gallon.

 

 

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