You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Macy’s to pay $650,000 in shopper-profiling probe
    The retailer Macy’s has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in Manhattan’s Herald Square.
  • Area joblessness up to 6%
    Metro Fort Wayne unemployment has increased for three consecutive months. Not to worry. It just means more people are seeking work than are being hired.
  • Trailer firmto expand Angola plant
    Rockwell American is investing more than $325,000 over the next four years to expand its Angola sales and distribution facility as it creates up to 16 jobs by 2017, Steuben County officials announced Tuesday.
Advertisement

Oil dips slightly as Asia observes Lunar New Year

BANGKOK (AP) — Oil prices dipped slightly Monday, as much of Asia observed public holidays that kept many stock markets closed.

Benchmark oil for March delivery fell 7 cents at late afternoon Bangkok time to $95.65 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 11 cents to $95.72 per barrel on the Nymex on Friday.

Trading was expected to be light for much of the week with markets shut for Chinese New Year.

The U.S. government said Friday that the country's trade deficit fell nearly 21 percent in December from November - the smallest trade deficit in nearly three years - due largely to plunging oil imports. Production of oil is surging in the U.S., lowering the prices of U.S. crude oil.

In London, Brent crude, used to price international varieties of oil, fell 23 cents to $118.67 a barrel on the ICE Futures exchange.

In other energy futures trading on the Nymex:

— Wholesale gasoline fell 1.5 cent to $3.0438 a gallon.

— Natural gas fell 1.2 cents to $3.26 per 1,000 cubic feet.

— Heating oil gained marginally to $3.2414 a gallon.

Advertisement