Crude prices gained Wednesday after Iran's oil minister said Tehran supports a decision to keep a "ceiling" on oil production.
U.S. stocks closed higher Tuesday, helped by gains in consumer discretionary and financials, as well as positive developments in China.
U.S. government debt prices fell on Tuesday as investors kept an eye on wild fluctuations in the oil markets.
Asia traded broadly higher on Tuesday, extending Monday's rally, but experts were not convinced it was the end of the volatility.
European markets extended gains to close higher Monday, thanks to remarks from ECB head Mario Draghi and a recovery in banks and commodities.
U.S. stock index futures pointed to a higher open on Wednesday as oil rallied on hopes of a deal to freeze production at January levels.
Japanese shares surged, after last week's sharp sell-off, despite weak Q4 GDP. But Chinese stocks lost ground after its markets re-opened from a week-long holiday.
The dollar rose against most major currencies on Tuesday as an agreement between the world's top oil producers increased investors' appetite for risk.
Oil futures fell Tuesday after four major producers agreed to freeze output at January levels, dashing hopes for a cut to supply.
Gold steadied on Tuesday as U.S. stocks were higher, allaying earlier market jitters that had boosted the precious metal.
U.S. equities closed sharply higher on Friday as European and American bank stocks — as well as oil prices — bounced sharply.
U.S. government debt prices were lower on Friday as investors eyed the release of data ahead of the three-day Presidents Day weekend.
The euro and yen weakened Monday after a warning on volatile currency markets and huge gains from China's yuan helped settle financial nerves.
Gold fell more than 2 percent on Monday as a rebound in stock markets pointed to a sharper appetite for risk.
Traders in the U.S. are due back at work Tuesday, after markets were closed for Presidents Day, with the oil price fluctuating wildly.
Oil prices rose on Monday, by speculation that OPEC might agree to cut production to reduce a supply glut that has pushed prices lower.
Oil prices jumped on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates.
Gold took a breather after soaring 4 percent the previous day but was still set for its best week in four years.
The dollar index rose on Friday after positive consumer spending data suggested the Fed may raise interest rates this year.
European markets finished sharply higher on Friday as crude oil prices and mining stocks rebounded.