Local company looks to expand in Indianapolis

INDIANAPOLIS (WISH) – Oil prices have fallen back to last week’s lows. Also, one local company says it’s expanding in Indianapolis.

Jane King was on Daybreak Tuesday morning with this story and other local and national business headlines.

Crude oil prices are back below $30 a barrel. The price extends a near six percent fall made in the previous session, amid news that Iraq’s output reached a record high last month. Meanwhile, Iraq might raise oil output further this year, adding to the glut of oil supply out there.

Indiana-based Renaissance Electronic Services is planning to invest nearly $15 million into an expansion in central Indiana. The dental claims provider is looking to double its more than 150 member work force by 2019.

Watch King’s full report in the video box above.