By attempting to shield consumers from high prices, governments will only encourage consumption via lower prices, prolonging the energy crisis.

Germany used more renewable energy than ever in 2022 but again failed to reach its CO2-reduction goal as Russia's war in Ukraine prompted a return to more coal and oil use, a think tank reported Wednesday.

Investors were rocked last year by Russia's invasion of Ukraine in late February, soaring inflation and rising interest rates.

Heavy falls in stock and bond markets over the last year have cut the combined value of the world's sovereign wealth and public pension funds for the first time ever - and to the tune of $2.2 trillion, an annual study of the sector has estimated.

From the moment Russian gas exports to Germany were first disrupted in June, German firm Kelheim Fibers began casting around for alternative options to keep its engines running.

Oil prices fell on Wednesday as concerns about an upsurge in COVID-19 cases in China, the world's top oil importer, outweighed expectations easing pandemic restrictions would lead to economic recovery and growth in demand for fuel.

Former Russian President Dmitry Medvedev, who is also a staunch Putin supporter, has made some really wild and weird predictions for 2023.

A short-lived bounce for global stocks faded on Thursday, as easing U.S. inflation expectations were overshadowed by fears about an economic downturn.

Portugal's parliament on Tuesday approved a 33% tax on the windfall profits that energy companies and food retailers may be bringing in with inflation at a near three-decade high.

The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.

EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter.

A group of investors has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030, reviving pressure on the sector after a year that saw governments shift their focus to energy security.

Turkey's inflation slowed in November for the first time since May 2021, official data showed on Monday, delivering a boost to President Recep Tayyip Erdogan ahead of next year's election.

The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.

Inside five white tents outside the Uiwang container depot near Seoul, about 200 striking truckers huddle around gas heaters

Fossil fuel producers benefited from sympathetic treatment in Egypt at the COP27 climate talks, government officials said, bringing their influence to bear in rushed final negotiations and frustrating those who hoped for a more ambitious outcome.

Italian Prime Minister Giorgia Meloni's first budget, due to be approved by her cabinet on Monday, will focus on curbing sky-high energy bills and cutting taxes for payroll workers and the self-employed, government officials said.

Countries closed this year's U.N. climate summit on Sunday with a hard-fought deal to create a fund to help poor countries being battered by climate disasters, even as many lamented its lack of ambition in tackling the emissions causing them.

Finance minister Jeremy Hunt will bury Britain's failed "Trussonomics" experiment on Thursday by cutting spending and raising taxes, moves that he and Prime Minister Rishi Sunak say are needed to restore investor confidence.

The world's largest satellite ground station, on the Svalbard archipelago off Norway, is used by Western space agencies to gather vital signals from polar-orbiting satellites.

Britain will Thursday hike taxes and slash public spending in a government budget that signals a return to austerity despite a cost-of-living crisis and recession headwinds.

The moment of truth is almost here for Britain's new prime minister Rishi Sunak and finance minister Jeremy Hunt.

Sunak, who took office just three weeks ago, swiftly restored a fracking ban that was controversially lifted by his short-lived predecessor Liz Truss.

The British government said on Thursday it had frozen assets worth more than 18 billion pounds ($20.5 billion) held by Russian oligarchs, other individuals and businesses sanctioned over Moscow's invasion of Ukraine.

The United States sought to reassure the UN climate summit in Egypt on Tuesday that it will stick to its energy transition even if Republicans triumph in midterm elections.

Higher interest rates can also boost a currency because investors are encouraged to bring money into the country to benefit from higher returns.

French energy giant TotalEnergies has pulled ahead of rivals Shell and BP in the race to build up a renewables business, data collected by Reuters shows.

Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering - demand for natural gas and electricity both fell in the past quarter.

The cost of Russia's military mobilisation and the impact of Western sanctions are set to blow a hole in the government's budget forecasts and drain Moscow's reserves to their lowest level in years, according to analysts' latest calculations.

Oil prices inched lower on Tuesday, extending losses of 1% from the previous session as more extensive COVID-19 curbs in China increased fears of slowing fuel demand in the world's second-largest oil consumer.