Oil lost more than a dollar as Kuwait said OPEC is unlikely to cut output to support prices, while Saudi Arabia hinted the same.
Gold settled higher as the dollar fell on uncertainty about global economic growth.
Asian shares fell on Monday, adding to last week's tumble, as strong Chinese data failed to soothe worries about sluggish global growth.
Long-dated Treasuries debt yields fell to the lowest levels in more than a year on Friday with concerns persisting about global economic growth.
Stocks fell Friday as computer-chip makers dropped on Microchip Technology's reduced forecast.
Wall Street look set to shake off last week's jitters, posting narrow gains ahead of a raft of earnings reports.
European shares closed sharply lower on Friday, as concerns over global growth and weaker economic data from Germany hit risk sentiment.
Oil prices reversed in choppy trading on Friday as investors momentarily overcame fears about the supply outlook.
Gold settled lower as a rise in the dollar capped four days of gains, though the metal remained supported around the $1,220 level.
The dollar firmed for a second straight session on Friday after three days of losses, bolstered by worries about the health of the global economy.
Asia stocks joined Wall Street's selloff on Friday, led by declines in the energy sector, as investors fretted over slowing European growth.
Stocks dropped Thursday as investors considered corporate earnings and a decline in weekly jobless claims.
U.S. stock futures pared steep earlier losses on Friday, as European and Asian stocks continued this week's global rout.
Treasury fell on Thursday morning after wholesale trade data topped forecast and monthly jobless claims hit an eight-year low.
European shares closed down on Thursday, after trading in and out of positive territory throughout the afternoon.
The dollar tumbled to a three-week low against the yen on Thursday as investors continued to pare back bullish bets on the greenback.
Crude oil settled below $86 a barrel for the first time since December 2012.
Gold settled near a two-week high as expectations of an early hike in US interest rates eased and the dollar lost traction.
Asian equities were mostly higher on Thursday following reassurance that the U.S. Federal Reserve would not raise interest rates anytime soon.
Wall Street pulled back to trade mostly lower on Thursday, following a global rally after the release of the Federal Reserve's dovish minutes.
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