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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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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. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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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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Oil edges lower after big drop on Libyan supplies


The Associated Press

The price of oil edged lower Monday after its biggest one-day drop since April on expectations Libyan oil will soon return to the market.

Benchmark U.S. crude for August delivery was down 39 cents to $100.44 per barrel at 0535 GMT in electronic trading on the New York Mercantile Exchange. It fell 3.1 percent last week and is down 4.3 percent so far in July.

Brent crude, a benchmark for international oils, gained 19 cents to $107.45 on the ICE exchange in London.

Oil prices shot up in June to a 10-month high over concerns violence in Iraq might disrupt supplies from OPECs second-largest exporter. Prices then drifted lower over the past two weeks as the advance by Iraqi insurgents stalled and oil exports were not threatened.

Friday's decline of $2.10, or about 2 percent, in the U.S. price was the biggest one-day loss since oil fell 2.2 percent on April 22.

Along with more certainty about Iraqi supplies, agreements between Libya's government and local militias may allow exports to surge in coming weeks.

At the same time, the International Energy Agency lowered its 2014 forecast of global demand due to weaker economic data. It predicted demand would rise 1.5 percent next year to 94.1 million barrels a day.

In other Nymex trading:

— Wholesale gasoline fell 0.1 cent to $2.88 a gallon.

— Natural gas shed 0.9 cent to $4.137 per 1,000 cubic feet.

— Heating oil gained 0.5 cent to $2.878 a gallon.

 

 

 

 

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