US crude futures closed up $1.01, at $51.53 a barrel, with their discount to Brent narrowing to less than $10 a barrel, after the announcement.
Gold rose on Wednesday, helped by lower European shares but a stronger dollar ahead of major U.S. economic data weighed.
Indian shares led gains in Asia Wednesday after a surprise rate cut by the Reserve Bank of India, while the rest of the region traded mixed.
U.S. stocks pulled back from recent highs to close lower, as investors weighed soft auto sales and looked ahead to domestic data.
U.S. stock index futures signaled a higher open on Thursday ahead of comments by ECB's Mario Draghi, scheduled ahead of Wall Street's open.
U.S. sovereign bond yields continued to rise on Tuesday, with yields on benchmark 10-year Treasurys up by around 1 percent.
European equities closed lower on Tuesday as investors reacted to a slew of earnings news and economic data.
The dollar softened on Tuesday after touching an 11-year high against major currencies.
Oil rebounded on Tuesday from the previous session's tumble, lifted by fighting that threatened Libya's oilfields.
U.S. stock index futures signaled a lower open on Wednesday ahead of a busy day for economic data, as investors await Friday's employment report.
Gold steadied as positive technical signals & an easing of the dollar against a basket of currencies helped the metal to recover from early losses.
Australian shares fell below the flatline on Tuesday after the Reserve Bank of Australia (RBA) surprised most market watchers by holding back on further easing.
U.S. stocks closed higher, with the Nasdaq above the psychologically key level of 5,000 for the first time since March 2000 and the Dow at a record.
U.S. Treasury yields rose after data showed that personal income rose in January, reducing some fears that the U.S. economic growth is slowing.
European equities turned lower Monday as a fall in the price of oil once again hit investor sentiment.
The dollar edged up with the greenback touching an 11-year peak despite soft economic data.
U.S. stock index futures fell on Tuesday, ahead of auto sales and amid earnings from big-name retailers like Best Buy and Dick's Sporting Goods.
Brent extended losses on Monday after Iran said a deal on its nuclear program could be agreed this week, which could boost the country's oil exports.
Gold rose to its highest level in nearly two weeks on Monday, backed by firm Chinese demand after a weekend interest rate cut in China.
Asian stocks kicked off the week on a positive note, as an interest rate cut in China on Saturday offset a weaker finish on Wall Street last week.
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