Crude was mixed on Tuesday, with U.S. oil ending marginally higher but Brent falling.
The dollar edged lower in choppy trading after the Chinese central bank said it would gradually exit from regular intervention in the foreign exchange market.
Brent oil rose by more than $1 a barrel but U.S. oil ended virtually flat on the day, as the Federal Reserve hinted at a taper timetable.
China's broad-based reform plans got a thumbs-up from the markets, with Hong Kong and mainland shares climbing Monday, leading regional gains.
Gold settled higher on Tuesday, stabilizing after sharp losses seen in the previous session.
Asian shares fell on Tuesday following a negative lead from Wall Street and caution over when the Federal Reserve might reduce its stimulus program.
U.S. stocks turned mostly negative on Monday, with the S&P 500 and Dow industrials retreating from record highs, after investor Carl Icahn said he is "very cautious" on equities.
European equities closed higher on Monday after a negative start, boosted by strong trading on Wall Street, plus euro zone trade surplus data.
U.S. oil fell in choppy trading as the perception of ample supplies outweighed expectations for strong demand.
Gold fell as a rebound in equities and lackluster physical demand prompted traders to cash in.
The safe-haven dollar and yen fell on Monday after China announced its most sweeping economic and social reforms in nearly three decades.
U.S. stocks climbed on Friday, with the Dow industrials and S&P 500 knocking out a sixth week of record-clearing gains.
U.S. stock futures held modest gains on Friday after data had import prices falling more than expected and a gauge of manufacturing in the New York region slipping.
Oil futures rose moderately, but gains were limited by reports that a deal over Iran's nuclear program may be near.
Gold edged lower as investors took profits after two days of gains sparked by assurances from the likely new Federal Reserve chief.
The yen dropped to a two-month low against the dollar and a four-year trough versus sterling on Friday after Janet Yellen's dovish remarks.
Japanese shares outperformed on Thursday as the yen weakened while the rest of Asian investors cheered dovish remarks from Fed Vice Chairman Janet Yellen.
U.S. stocks rose on Thursday, lifting the Dow industrials and S&P 500 to their loftiest levels, as investors embraced signals sent by Janet Yellen.
European equities closed higher on Thursday following dovish remarks from U.S. Federal Reserve Vice Chair Janet Yellen.
Crude ended higher on signs the Federal Reserve will keep its massive stimulus.