Brent and WTI are set for a steep weekly drop on de-escalation hopes, yet tanker attacks in the Strait of Hormuz keep a floor under the market, Reuters reports.
The dollar weakened against most major currencies as traders awaited US midterm results, with Democrats seen as favourites to gain ground, Reuters reported.
Asian markets await US midterm results, which will shape tariffs, AI spending, the dollar and Middle East risks. Democrats are seen as the likeliest winners.
According to Reuters, the Nasdaq rose 0.83% on Tuesday as AI shares recovered, while Apple lost 1.9% after warning that memory chip costs will keep climbing.
Analysts outline how the November 3 US midterm outcome could shape foreign fund flows, the dollar and Treasury yields for Indian stocks, according to Moody's.
A US federal judge in Anchorage dismissed the Trump administration's lawsuit seeking to block Alaska from certifying a Senate race result, Reuters reports.
Trump campaigns in Iowa and Kansas, Farm Belt states where Republicans must hold Senate seats. Tuesday's vote will decide control of Congress, Reuters reports.
The New York Times reports Michigan Democrats Stevens and El-Sayed are still feuding days before the vote, while Scottsdale weighs its wastewater recycling plan.
Moody's reports that the November 3 congressional vote will determine whether lawmakers can check the Trump administration's tighter immigration rules for skilled workers.