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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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Global oil under $114 as Iraq supply worries ease


The Associated Press

The price of global crude dipped under $114 Thursday as fears diminished somewhat over supply disruptions from Iraq while U.S. oil extended gains on looser U.S. export controls.

Benchmark U.S. crude for August delivery rose 25 cents per barrel on the New York Mercantile Exchange. The contract rose 47 cents to settle at $106.50 on Wednesday. Brent crude, used to price international oils, eased 7 cents to $113.93 a barrel in London.

U.S. crude is rising after the Obama Administration opened the door to more oil exports by permitting some light oils to be defined as petroleum products like gasoline or diesel, which aren't subject to export restrictions. Analysts said the changes could add up to 1.1 million barrels of potential exports.

Brent crude edged lower from nine-month highs reached earlier this week. While concerns linger about violence in Iraq affecting global crude supplies, oil production and exports from the giant fields clustered in the country's south remain unaffected. July exports are expected to average about 2.57 million barrels per day, Platts forecasts.

In other energy futures trading on the Nymex:

— Wholesale gasoline barely budged $3.07 a gallon.

— Natural gas rose 2.3 cents to $4.58 per 1,000 cubic feet.

— Heating oil fell 0.1 cent to $3.037 a gallon.

 

 

 

 

 

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