The Latest Breaking News on Energy

A major oil prospect on federal land in Alaska is hanging in the balance as pressure mounts on the Biden administration for a final decision to approve, or reject, the project.

Oil took over from natural gas as the leading fuel for power plants in New England, a significant switch that signals how the grid is desperately trying to keep the lights on in the face of a winter massive storm.

NEW DELHI: The Group of Seven (G7) nations, the European Union and Australia imposed a $60 per barrel price cap on Russian seaborne crude oil, with effect from Monday.

An oil spill in a creek in northeastern Kansas has shut down a major pipeline from Canada through the Plains and to the Texas Gulf Coast

Dame Margaret Hodge called for the British company to cut its ties with oil firm Rosneft, which is majority owned by the Russian state.

Hungary's government scrapped a price cap on fuels on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a "critical situation."

Demonstrators obstructed the road at the Bricklayers Arms roundabout at around 8am on Tuesday.

Fifteen climate activists held banners and chanted as they walked on the road

Oil rebounded on Tuesday after plunging by more than 3% in the previous session, as the implementation of sanctions on Russian seaborne crude oil eased concerns about oversupply while the relaxing of China's COVID curbs bolstered the demand outlook. Brent crude futures had gained 85 cents to $83.53 a barrel…