U.S. crude tumbled, as builds in domestic stockpiles and a strong dollar outweighed worries over tougher U.S. sanctions on Russia.
U.S. stock index futures indicated that Wall Street looked set to maintain the gains posted on Thursday.
The dollar rose against the yen and euro on Wednesday, following the Federal Reserve's announcement it will further unwind monetary stimulus.
Gold settled lower in the wake of a suggestion by Federal Reserve chair Janet Yellen that rates could rise sooner than expected.
Brent crude sat near a six-week trough, while U.S. crude rose ahead of the contract's expiry.
Stocks finished firmly in the red Wednesday after Fed Chair Janet Yellen suggested interest rate hikes would happen about six months after quantitative easing ends.
Asian stocks declined on Thursday after Fed Chair Janet Yellen suggested interest rate hikes could happen sooner than expected.
U.S. stock index futures signaled a positive open on Wednesday as fears of military movements in Ukraine receded.
European stocks closed higher for a second consecutive day on Tuesday after Russian President Vladimir Putin calmed markets.
A modest easing of tension in Ukraine and a slight increase in U.S. Treasury yields sent the euro on Tuesday against the U.S. dollar and the yen.
U.S. stock-index futures indicated a second day of losses
European shares closed mostly lower on Wednesday afternoon, with the U.K. budget pushing the FTSE 100 down.
Spot gold fell more than 1.5 percent after the Fed announced that it would stay on course with its plan to trim its bond-buying program.
Bonds traded higher on Thursday after the US government's auction of 30-year Treasury bonds, the last of three debt auctions this week.
Asian shares were mixed on Wednesday due to caution over the Federal Reserve's policy meeting and the health of China's property market.
The euro fell against the dollar and pared its gains against the yen on Monday.
U.S. crude rose by more than $1, as strong gains in equities outweighed forecasts for another build in domestic supplies.
Gold futures settled 1 lower as global equities rose after Russian President Vladimir Putin's latest comments on Crimea lifted appetite for risk.
European shares closed lower on Friday after another volatile week dominated by events in Ukraine, with a referendum this weekend in Crimea.
Gold ended higher as investors added it as an insurance before a key vote in Crimea over the weekend to decide whether the region will join Russia.
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