Oil futures ended higher in thin holiday trading conditions Tuesday, with support tied in part to lingering geopolitical worries around Russia and the Middle East, though upside remains capped by expectations for a crude surplus amid a shaky outlook for demand.

The oil-and-gas industry needs plastic production to rise to offset a decline in demand for transport fuel.

Big, integrated oil companies could face a double whammy from the shift in China's car market.

Brent crude is expected to average $71.57 a barrel next year, while West Texas Intermediate is seen at $67.44 a barrel. Global oil demand growth slowed significantly this year.

The president-elect's threat to impose tariffs on European imports could frame early discussions between European leaders and his administration.

Find insight on Vermilion Energy, Seatrium, Tenaga Nasional and more in the latest Market Talks covering Energy and Utilities.

Azerbaijan wants to build solar, wind and hydropower plants in Nagorno-Karabakh, a war-torn region that was home to 100,000 Armenians until last year.

Thai oil-and-gas giant PTT Exploration & Production plans to invest $5.3 billion to boost key assets and speed up overseas development projects in 2025.

Chevron and Woodside Energy agreed to an asset swap that they said will sharpen their focus on the massive LNG operations they each operate in Western Australia.

The plan, which will nearly double the amount of energy that can be transported around the U.K., comes as energy utilities across Europe bet on a boom in demand amid rising electrification, industrial decarbonization, and AI applications.