News bites: World Bank backs off coal, BP seeks suspension of spill claims and more

Reuters reports:

The World Bank's board on Tuesday agreed to a new energy strategy that will limit financing of coal-fired power plants to "rare circumstances," as the Washington-based global development powerhouse seeks to address the impact of climate change.

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The Houston Chronicle has the latest on the controversy over BP’s payment of Gulf oil spill claims.

“British oil giant BP asked a federal judge late Tuesday to order that all payments from its multibillion dollar Gulf oil spill civil settlement be suspended until an independent investigation of the claims administrator’s office is concluded,” the paper reports.

The Associated Press tracks how oil markets are behaving ahead of Federal Reserve Chairman Ben Bernanke’s upcoming testimony.

Reuters reports on Chinese natural gas development plans with big geopolitical ramifications.