U.S. crude briefly traded at a premium to the global benchmark Brent on Friday for the first time since October 2010, ending the session only modestly lower.
The yen fell across the board on Thursday as traders bet Japan's upper house elections would strengthen Prime Minister Shinzo Abe's position.
An unexpected drop in jobless claims helped spur U.S. oil to its highest level in 16-months on Thursday, narrowing its spread with Brent crude.
Gold prices settled higher on Thursday, partially recovering from a more than 1 percent loss in the previous session.
The dollar rose broadly on Wednesday after Federal Reserve Chairman Ben Bernanke confirmed market expectations that the U.S. central bank will start reducing its monetary stimulus.
U.S. oil settled marginally higher after the Energy Information Administration reported further draws in American crude stockpiles and larger-than-expected increases in gasoline inventories.
Gold fell more than 1 percent to settle at $1277 after Fed chief Ben Bernanke said the U.S. central bank still expects to start scaling back its massive bond purchase program later this year.
Asian equity markets were mixed on Wednesday ahead of a widely-anticipated speech from the chairman of the U.S. Federal Reserve.
The dollar stayed on the defensive on Wednesday ahead of Federal Reserve Ben Bernanke's semi-annual testimony in Congress later in the day.
U.S. crude oil prices were marginally lower on Tuesday as traders awaited government and industry data that should show a draw in crude oil supplies.
Gold prices settled 0.5 percent higher at $1,290 on Tuesday as the dollar eased ahead of Federal Reserve Chairman Ben Bernanke's congressional testimony later in the week.
The dollar eased versus a basket of currencies Tuesday, supported by the view that the Fed is likely to be the first to move away from ultra-loose monetary policy.
Crude edged up on Monday, with U.S. oil finishing the session modestly higher, as traders mulled the impact of mixed economic and industry data from the United States and China.
Gold settled higher at $1,283 on Monday as the dollar pared gains amid concerns that weaker-than-expected US retail sales could dampen the Fed's tapering plans.
The dollar rose on Monday amid anticipation of improved U.S. sales data which could hasten moves by the country's central bank to wind down its stimulus programme.
Asian stocks were modestly higher on Monday as investors breathed a sigh relief after China's latest second-quarter growth figures matched market expectations.
Oil rose to $109, led by the biggest surge in gasoline futures in four months as a string of refinery outages stoked concerns about fuel supplies in the U.S. summer driving season.
Gold futures settled lower at $1,277 per ounce as the dollar rebounded and investors booked profits after four days of gains.
European shares closed slightly lower on Friday after posting four days of successive gains, with weak data from the euro zone showing that its economic recovery still hangs in the balance.
Asian equity markets were mixed on Friday as caution ahead of Chinese growth data next week offset gains from Wall Street's record-breaking rally overnight.
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