Geopolitics Gives Oil a Late-Year Lift

Crude futures recovered some lost ground in the days before Christmas. Russia Muscles Into China’s LNG Market as Australia Loses Ground - Russia has become the second-largest LNG supplier to China, doubling its deliveries of super-chilled gas year-over-year in November to 1.6 million metric tonnes, according to Chinese customs data. - China’s weak demand for LNG has been one of the most consistent downtrends this year, with 2025 arrivals totalling only 66 million tonnes, down 16% from a year ago when imports tallied up to 78 million…