Join The Discussion

 

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.

read more >

Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

read more >

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.

read more >

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.

read more >

American Airlines' first 787 Dreamliner arrives at D/FW

American is preparing the plane to begin service sometime in the second quarter.

read more >

 

Oil falls as fear fades over Iraq conflict
 


The Associated Press

The price of oil fell Tuesday as fears receded that the insurgency roiling Iraq would affect its oil production and exports.

Islamic militants have been steadily expanding their grip on the country's north, where they control a broad swath of territory. But the bulk of the country's production and export operations are in the south, which have so far been spared in this month's advance by the al-Qaeda inspired group. Iraq's daily oil production hit 3.5 million barrels this year, up from nearly 2.4 million a day in 2009.

Benchmark U.S. crude for August delivery dropped 46 cents to $105.71 per barrel on the New York Mercantile Exchange. The contract dropped 66 cents to settle at $106.17 per barrel on Monday. Brent crude, used to price international oils, fell 30 cents to $114.82 a barrel in London.

"Brent crude oil fell after hitting technical resistance at overbought levels," said Desmond Chua, market analyst at CMC Markets in Singapore. "This should signal a period of consolidation as the majority of the geopolitical premium has been priced in, unless we see new risk of disruptions to oil supplies in Iraq."

In other energy futures trading on the Nymex:

— Wholesale gasoline slipped 0.5 cents to $3.07 a gallon.

— Natural gas rose 0.7 cent to $4.453 per 1,000 cubic feet.

— Heating oil fell 0.3 cent to $3.038 a gallon.

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?