Crude prices came under renewed pressure on Monday, and Brent hit five-year lows of nearly $60 a barrel and U.S. oil prices fell below $56 a barrel.
The U.S. dollar rose against the euro on Monday on expectations that the Federal Reserve will take a less-dovish stance on monetary policy.
Asian stocks pulled back sharply on Monday, as investors fretted about the relentless slide in energy prices and declining manufacturing sentiment in Japan. Also in focus was a hostage incident in Sydney.
Stocks fell Friday, as crude's slide continued and Chinese industrial production came in below forecasts.
Brent crude oil slipped below $62 a barrel, its lowest since July 2009, on persistent concerns over global supply glut and a sluggish demand outlook.
U.S. stock index futures signaled a higher open on Monday as all eyes are on the Fed's latest monetary policy committee meeting on Wednesday.
Gold prices steadied on track for their biggest weekly rise since June, as the dollar retreated.
The Norwegian crown sank to its weakest in more than a decade against the U.S. dollar on Friday, a day after Norway's central bank cut rates.
Asian equity markets traded mostly higher on Friday, cutting the week's losses.
European stock markets closed flat to higher on Thursday after lending data from the European Central Bank (ECB) bouyed sentiment.
Stocks rose Thursday as retail sales rose in November and jobless claims fell last week.
U.S. stock index futures signaled a lower open on Friday, tracking sharp declines in global markets as U.S. crude crashed below $60.
Gold prices were little changed on Thursday, retreating further from the previous session's seven-week high as the dollar extended gains.
US crude settled down 99 cents, or 1.6 percent lower, at $59.95 per barrel, its lowest close since July 14, 2009.
The dollar was boosted by strong U.S. retail sales numbers and declining jobless claims, suggesting the US economy may get a rate hike next year.
Asian bourses slid again on Thursday, as falling oil prices and a worse-than-expected machinery orders report from Japan reinforced jitters about a sluggish global economy
Stocks declined on Wednesday, furthering the week's losses, as crude fell as OPEC cut its demand outlook for 2015.
U.S. government debt prices moved higher as investors awaited a Treasury auction and Greek bond yields moved closer to 9 percent.
U.S. stock index futures signaled a higher open ahead of retail sales data, which will point to the strength of the holiday shopping period.
European shares closed lower on Wednesday, continuing its declining trend as Greek political fears and slumping oil prices weigh.