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  • Crude inventories rose by 7.3 million barrels in the last week, according to Energy Information Administration data, surprising analysts who had expected a decrease of 2.3 million barrels. "It's a very bearish report and plays into the mantra of supply glut and it will be interesting to see if the price can test the lows in the $53 area as the year comes to a close,"...

  • Revamped North Dakota museum sets attendance mark Tuesday, 23 Dec 2014 | 2:02 AM ET

    BISMARCK, N.D.— North Dakota's Heritage Center has seen a record number of visitors this year thanks to a $52 million upgrade of the facility, which sits on the state Capitol grounds in Bismarck, officials said. State Historical Society Director Claudia Berg said about 150,000 people have visited the museum since April 28, when the expanded facility's first two...

  • BISMARCK, N.D., Dec 19- Tumbling U.S. oil markets approached an important if obscure milestone on Thursday, closing near a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. "We're really at the point where we could start calculating this," Ryan Rauschenberger, North Dakota's tax commissioner, said in an...

  • Survey: US gas prices fall 25 cents per gallon Sunday, 21 Dec 2014 | 1:11 PM ET

    CAMARILLO, Calif.— The average price of regular gasoline nationwide has dropped another 25 cents a gallon in the past two weeks, to $2.47. The highest-priced gas in the Lower 48 states was found in Long Island, New York, at $2.82 a gallon. California's lowest average was in Sacramento, at $2.58 a gallon.

  • BISMARCK, N.D., Dec 19- Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. "We're really at the point where we could start calculating this," Ryan Rauschenberger, North Dakota's tax commissioner, said...

  • Lawsuit shows resistance to legalization of pot Friday, 19 Dec 2014 | 3:14 AM ET

    The lawsuit seeks to overturn Colorado's experiment in legalized recreational pot, alleging that the two conservative states are being overrun with Colorado marijuana that is making it harder for them to enforce their own drug laws. Nebraska Attorney General Jim Bruning framed it as a public-safety issue, though the complaint provides little data to...

  • Panel gives final OK for Oklahoma income tax cut Thursday, 18 Dec 2014 | 8:44 PM ET

    The seven-member Board of Equalization, led by Gov. The amount is also nearly $300 million less than the $7.2 billion state-appropriated budget approved by the Legislature for the current fiscal year. Although a final estimate on how much the Legislature will have to appropriate won't be determined until February, state officials are warning agency leaders...

  • Oklahoma revenues sufficient to trigger tax cut Wednesday, 17 Dec 2014 | 7:35 PM ET

    Secretary of Finance Preston Doerflinger announced the estimate for general revenue fund collections for the upcoming fiscal year is about $60 million more than the estimate made in February 2013, thus triggering the cut. Doerflinger says the average tax filer will save about $85 a year, while the cut is expected to cost the state about $147 million annually.

  • NEW YORK, Dec 17- Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly. "I think it was triggered by some short-covering, and once it gets going it feeds upon itself," said John Saucer at Mobius Risk Group in Houston.

  • In final 2014 push, Congress renews tax breaks Wednesday, 17 Dec 2014 | 2:07 AM ET

    WASHINGTON— Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval Tuesday to a massive tax package affecting millions of businesses and individuals. More narrow provisions include tax breaks for filmmakers, racehorse owners and rum producers in Puerto Rico and the Virgin Islands.

  • 113th Congress ends with more fights than feats Wednesday, 17 Dec 2014 | 1:16 AM ET

    WASHINGTON— The tempestuous 113th Congress has limped out of Washington for the last time, capping two years of modest and infrequent legislating that was overshadowed by partisan clashes, gridlock and investigations. That was the fewest since at least 1947 and 1948, when what President Harry Truman dubbed "the do-nothing Congress" enacted over 900 laws.

  • Congress votes to extend tax breaks through 2014 Tuesday, 16 Dec 2014 | 7:32 PM ET

    WASHINGTON— Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval Tuesday to a massive tax package affecting millions of businesses and individuals. More narrow provisions include tax breaks for filmmakers, racehorse owners and rum producers in Puerto Rico and the Virgin Islands.

  • Senate OKs nominees and tax bill as term ends Tuesday, 16 Dec 2014 | 3:17 AM ET

    WASHINGTON— The Democratic-controlled Senate confirmed the last batch of President Barack Obama's judicial appointees and sent the White House legislation extending tax breaks for working-class millions and special interests alike late Tuesday as Congress ended a tumultuous two-year run. But dozens of Obama's nominees to agency positions won...

  • HOUSTON, Dec 12- Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. But I don't think anybody is going to be able to add on significantly more debt, "said Christian Ledoux, a senior portfolio manager at San Antonio-...

  • Best-known is Continental Resources, which lifted its hedges in early November, when oil was trading at around $83 a barrel, leaving it unprotected as prices slipped another $20, the most dramatic drop since the 2008 crisis. Apache Corp and Whiting Petroleum are also exposed to lower prices and have underperformed some peers over the past two weeks.

  • *OPEC trims world oil demand forecast to 28.92 mln bpd. *Brent crude falls below $65/ bbl, lowest since Sept 2009. LONDON, Dec 10- Brent crude oil fell to a new five-year low below $65 a barrel on Wednesday on mounting signs of oversupply and lacklustre demand as global economic growth falters.

  • *U.S. crude for January delivery was down 57 cents at $63.25 a barrel by 0000 GMT. The contract gained 77 cents at the close on Tuesday after falling to as low as $62.25, its weakest since July 2009. *Brent crude settled 65 cents higher at $66.84 after dropping to $65.29, its lowest since September 2009.

  • Dec 9- Spirit AeroSystems Holdings Inc, an aircraft parts maker, said it will pay rival supplier Triumph Group Inc $160 million to take over its wings contract for two Gulfstream business jets. Triumph, based in Berwyn, Pennsylvania, said the deal would immediately add to its earnings and boost annual revenue by $250 million. Gulfstream, a unit of General Dynamics...

  • Dec 9- Aircraft fuselage maker Spirit AeroSystems Holdings Inc said it would pay aero parts supplier Triumph Group Inc $160 million to take its business that makes wings for two Gulfstream jets. Spirit will incur a loss of $1.45- $1.65 per share on the transaction, which is expected to close this year, the company said. Spirit put its Tulsa, Oklahoma operations,...

  • And the state with the cheapest gasoline is... Friday, 5 Dec 2014 | 2:36 PM ET
    A gas station attendant fills a customer's vehicle in Turnersville, N.J., Dec. 4, 2014.

    The gap between the most and least expensive U.S. state in average gas prices is the widest in 10 years.