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 >

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.

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 slips below $104 as supplies set to increase


The Associated Press

Oil fell below $104 per barrel on Monday as expectations of increased supply offset strong U.S. job growth.

U.S. crude for August delivery was down 25 cents to $103.81 a barrel at 0620 GMT in electronic trading on the New York Mercantile Exchange. The contract sunk as low as $103.70 on Friday before closing at $104.06.

Brent crude, a benchmark for international oils, was up 2 cents at $110.66 on the ICE exchange in London.

Crude fell despite signs the U.S. economy is steadily improving, which typically would increase demand. Employment grew by an unexpectedly large 288,000 workers in June.

Oil has been sliding since it reached a 10-month closing high of $107.26 on June 20 due to concern about an advance by Islamic militants in controlling Iraqi territory. Since then, it has become clear that there are no imminent disruptions to supplies from Iraq, OPEC's second-biggest producer.

On top of that, an agreement in Libya between the central government and a regional militia was expected to lead to the reopening of two eastern oil terminals that would boost the country's crude exports by about 500,000 barrels a day. Libya currently produces around 350,000 barrels of oil a day.

In other energy futures trading on the Nymex:

— Wholesale gasoline was down 0.5 cent at $3.015 a gallon.

— Natural gas lost 0.7 cent to $4.332 per 1,000 cubic feet.

— Heating oil fell 0.7 cent to $2.922 a gallon.

 

 

 

< back

Email   email
hide
Catch
How 'bout them Cowboys?