Equity markets in Shanghai and Japan outperformed the region with marginal gains on Wednesday.
A resurgent dollar weighed on crude ahead of inventory data expected to show whether fuel demand was accelerating.
Gold steadied on Wednesday off the previous session's two-week low as the dollar retreated after its biggest daily rise in two years.
U.S. stocks closed about 1 percent lower as investors eyed renewed strength in the dollar and data that could strengthen the case for a rate hike.
Bond yields tumbled on Tuesday after the US government's auction of 2-year Treasury notes drew average demand.
Europe markets extended losses to close lower Tuesday, following U.S. stocks into negative territory with investors reacting to corporate earnings and Greece concerns.
Asian shares largely rise, with markets in China and Tokyo clinching fresh multi-year highs, despite an absence of fresh cues offshore.
European equities closed lower on Monday amid low volumes, with a number of markets shut for the holiday weekend.
Oil fell below $64 a barrel, pressured by the possibility U.S. shale oil producers could increase drilling and by a stronger dollar.
Stock markets in Asia mostly rise on Monday, with Tokyo and Shanghai scoring fresh multi-year highs.
Crude oil futures edged lower towards $65 as the dollar strengthened, with a public holiday in the U.S. and much of Europe keeping trading muted.
U.S. stock index futures pointed to a higher open on Wednesday, following Europe into positive territory shrugging off Tuesday's weak close.
The dollar rose more than 1 percent, extending recent gains driven by increasing expectations the Fed will start raising rates.
The dollar hit a one-month high against a basket of major currencies after stronger-than-expected underlying U.S. inflation bolstered the Fed's case for a rate hike.
Gold fell more than 1 percent on Tuesday as the dollar extended gains following stronger U.S. inflation data and comments from the Fed.
Gold prices fell slightly, as the dollar gained traction against major currency rivals, on signs the Fed is preparing to tighten monetary policy.
U.S. stock index futures pointed to a flat to lower open on Tuesday ahead of a hectic day of data releases, following the Memorial Day holiday weekend.
U.S. stocks closed lower on Friday as investors eyed inflation data and Fed Chair Yellen's speech ahead of the long weekend.
Yields remained higher on Friday after Fed Chair Janet Yellen said a interest rate hike will be appropriate this year if the economy improves.
European equities closed mixed on Friday as investors focused on a central banking forum in Portugal and a speech from U.S. Federal Reserve Chair Janet Yellen.