Crude oil futures ended higher on Tuesday on weaker dollar and hopes that OPEC and allies will likely postpone a plan to ease output cuts in January. The dollar's weakness was due largely to expectations that Democratic Party candidate Joe Biden might push for bigger US stimulus and take a freer approach to trade, if he manages to win the presidential election. The dollar's weakness, ahead of the Federal Reserve's two-day monetary policy meeting that begins tomorrow, supported oil's uptick.
Crude oil futures for December rose $0.85 or 2.3 percent to settle at $37.66 a barrel on the New York Mercantile Exchange. January Brent crude gained $0.85 or 2.2 percent to settle at $ 39.81 a barrel on London's Intercontinental Exchange.