The chemical reaction that occurs in the presence of oxygen is known as oxidation. This reaction involves the transfer of electrons and often results in the release of energy. Oxidation is a key process in various biological and chemical systems, most notably during cellular respiration, where glucose is oxidized to produce ATP, water, and carbon dioxide. Oxidation reactions are also significant in combustion processes and the rusting of metals. Understanding oxidation is crucial for fields such as biochemistry, environmental science, and materials science.