Crude gave up gains after data showed U.S. oil inventories spiked by more than 3 million barrels last week.
US stock index futures seesawed as investors awaited another wave of major earnings, including Dow-listed Boeing and Procter & Gamble.
The euro struggled to make headway on Thursday amid caution before a speech by ECB President Mario Draghi.
U.S. stocks rose on Tuesday after earnings from McDonald's and Netflix.
Asian stocks were mixed on Wednesday as investors digested data that showed a slight improvement in Chinese factory activity.
The Treasury auctioned $32 billion in two-year notes at a high yield of 0.447 percent. The bid-to-cover ratio, an indicator of demand, was 3.35.
European shares closed higher on Tuesday, starting a shortened trading week on a positive note.
A record Japanese trade deficit in the fiscal year fueled the dollar's rise against the yen, but tensions in Ukraine were likely to limit losses.
Oil plunged as investors anticipated rising production and inventories in the world's top oil consumer, downplaying events in Ukraine.
The European Central Bank's Mario Draghi made clear the euro's strength is a possible trigger to ease monetary policy.
The US dollar was weakened by falling equity prices, Treasury yields, and a slower-than-expected expansion in the US manufacturing sector.
Asian equities were mixed on Tuesday as investors were cautious about the prospect of further U.S. sanctions on Russia.
U.S. stock index futures pointed to a lower open on Tuesday, ahead of first-quarter earnings early in the day from three Dow-listed companies.
Stocks rose on Monday after the S&P 500's largest weekly advance since July.
U.S. Treasury yields were little changed on Monday after recent strong economic data and last week's efforts to settle unrest in Ukraine.
Gold fell to a two-and-a-half-week low on Monday, hurt by sharp ETF outflows and a stronger dollar.
The dollar fell against a basket of currencies on Thursday after Federal Reserve chief Janet Yellen reiterated an accommodative monetary policy stance.
European shares closed higher on Thursday, as investors focused on Wall Street earnings and the latest U.S. jobs data.
The yen slipped to 10-day lows against the dollar on Friday following upbeat U.S. economic data and hopes for an end to violence in Ukraine.
Stocks wavered between gains and losses on Thursday amid a slew of quarterly earnings.
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