U.S. crude rose nearly $2, narrowing its discount to Brent as traders expected data to show supplies were draining from a delivery point.
Safe-haven currencies like the yen and the Swiss franc were much in demand on Monday as an emerging markets sell-off continued.
The dollar regained a firmer footing against the yen on Tuesday as investors took a breather from a sell-off of stocks and emerging market assets.
Asian equity markets stabilized on Tuesday following two straight sessions of sharp losses but caution prevailed ahead of a Federal Reserve meeting.
The yen rose against the dollar, suggesting emergency action to stabilize Turkey would not be enough to quell nerves over emerging markets.
U.S. stock index futures pointed to a mixed open as global markets awaited word from the Federal Reserve on further tapering.
Stocks declined on Monday, with the Dow Jones Industrial Average losing steam in the wake of its worst week since November 2011.
U.S. bonds edged lower on Monday, with the market looking ahead to the Federal Reserve's monthly policy meeting, which starts on Tuesday.
European equities closed lower on Monday, falling to their lowest levels in more than a month.
The yen, Swiss franc and euro charged higher amid worries about a China slowdown and turmoil in some emerging markets.
Gold settled modestly lower on Monday after hitting 10-week highs overnight on weakness in global stocks, but gains were limited.
Stocks declined sharply on Thursday after a gauge of Chinese manufacturing disappointed.
Asian equities kicked off the week with sharp losses as fears over emerging markets continued to spook investors.
U.S. stocks fell sharply on Friday, with the Dow posting its worst week since May 2012.
U.S. stock index futures pointed to a positive open on Wall Street on Monday, ahead of the busiest week of fourth quarter earnings season.
U.S. bonds pushed higher on Friday, after disappointing manufacturing data from both the U.S. and China revived the safe haven bid for Treasurys.
U.S. oil fell by more than $1, as reports pointed to a slowing economy in China, the world's second-largest oil consumer.
Gold settled higher as a global flight from emerging market assets set global stock markets on course for their worst week so far in 2014.
U.S. stocks traded mixed Wednesday as Wall Street appraised results.
Asian equities were mixed on Friday, as fears of a slowdown in China weighed down on the Nikkei.