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.
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.
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.
According to Reuters, the administration is probing the Alaska Senate race and may take a California ballot dispute to the Supreme Court before Tuesday's vote.
A second candidate named Dan Sullivan on the Alaska Senate ballot has triggered criminal probes and a court fight. Here is what is known so far, per The Wall Street Journal.
A federal appeals court refused to halt California from counting mail ballots tied to a disputed list of alleged noncitizen voters ahead of the midterms.