Oil prices climbed about 3% on Wednesday after a disruption at Libya’s top oilfield added to fears that tensions in the Middle East could reduce global oil supplies. Brent futures rose $2.44, or 3.2%, to $78.33 a barrel by 11:06 a.m. EST (1606 GMT), while U.S. West Texas Intermediate (WTI) crude rose $2.45, or 3.5%,….

Global oil prices jumped on Monday after the energy giant BP said it had stopped sending tankers through the Red Sea, a vital shipping lane which has become an increasingly dangerous route because of drone and missile attacks targeting merchant ships launched by the Houthi armed group in Yemen. The announcement by BP raised fears….

OPEC’s top Arab energy ministers arrived in Doha on Monday for the 12th Arab Energy Conference as countries clash at the UN’s COP28 climate summit over a possible agreement to phase-out fossil fuels. OPEC Secretary General Haitham Al Ghais in a letter dated Dec. 6 and seen by Reuters urged OPEC members to reject any COP28….

Carbon dioxide emitted by the U.S. energy sector is expected to fall 3% year to year to 4,790 million metric tons in 2023, as higher electricity generation from renewable sources such as solar power should keep replacing coal-fired power plants, the Energy Information Administration said Tuesday. In addition, ELA said in its Tuesday report that….

The U.S. will lay out the first international strategy to commercialize nuclear fusion power at the upcoming UN climate summit in Dubai, U.S. Special Envoy on Climate Change John Kerry will say on Monday, two sources familiar with the announcement said. Fusion could have an important advantage over today’s nuclear fission plants that split atoms,….

The Biden administration is announcing it will spend $1.3 billion of new federal funding to help create three new, massive electrical transmission lines in the Southwest and New England, in an effort to improve the nation’s power grid and get more renewable energy into America’s homes and businesses. The lines will span from Arizona to….

Connecticut officials on Wednesday announced an agreement with their counterparts in Rhode Island and Massachusetts to launch a joint effort to procure new wind power contracts for their respective states. The memorandum of understanding between the three states comes as wind power project developers already under contract to them are seeking to terminate those contracts,….

This years winter may look drastically different than recent years because of El Niño. This winter will be the first in a few years to feel the effects of the phenomenon, which has a sizable impact on the weather during the coldest months of the year. El Niño is one of three phases of the….