The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday. The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. Southern said last year it would freeze increases in power bills for several years. The two roughly 30-year loans to Georgia Power and Alabama Power will help [Read more]

Several countries have begun withdrawing dependents of diplomatic personnel and non-essential staff from some locations in the Middle East, or advising citizens to defer travel to Iran, amid rising tensions between Washington and Tehran. Here are some of the moves: AUSTRALIA: The government has told dependents of Australian diplomats in Israel and Lebanon to leave the two countries, citing a deteriorating security situation in the region. It also offered voluntary departures to Australian [Read more]

OPEC+ is likely to consider raising its oil output by 137,000 barrels per day for April, three sources with knowledge of OPEC+ thinking said as the group prepares for peak summer demand and a price boost from tensions between the U.S. and OPEC member Iran. The resumption of output increases after a three-month pause would allow OPEC leader Saudi Arabia and members such as the UAE to regain market share at a time when other OPEC+ members, such as Russia and Iran, contend with Western sanctions [Read more]

Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the plan. U.S. President Donald Trump has said he is considering a strike on Iran to pressure its leaders to agree a deal to curb Tehran's nuclear programme. The United States has assembled [Read more]

U.S. crude oil imports from Venezuela rose to their highest since January 2025, the U.S. Energy Information Administration's (EIA) said on Wednesday. Imports from Venezuela rose by 290,000 barrels per day (bpd) to 339,000 bpd in the week ended February 20, according to data from the EIA's Petroleum Supply Report. (Reporting by Nicole Jao and Scott DiSavino in New York) [Read more]

HOUSTON, Feb 25 - U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 16 million barrels to 435.8 million barrels in the week ended February 20, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 881,000 barrels, the EIA said. Refinery crude runs fell by 416,000 barrels [Read more]

Big Tech’s race to dominate artificial intelligence may soon hit a nasty road bump as U.S. electricity grids struggle to keep pace with the big-spending hyperscalers. America’s technology giants, including Microsoft, Amazon, Alphabet and Meta, have in recent months announced plans to spend over $600 billion on AI in 2026 alone. The investment wave has already fuelled unease among some investors about the profitability of this strategy. They have reason to be worried, as the ambitious U.S. AI [Read more]

Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the U.S. and Iran that could disrupt supply continued to worry investors as talks between the parties are set for Thursday. Brent futures were up 43 cents, or 0.6%, at $71.20 per barrel at 0400 GMT. WTI futures rose 38 cents, or 0.6%, to $66.01. Brent prices reached their highest since July 31 on Friday, while WTI hit its highest since August 4 on Monday, and both contracts have held [Read more]