Brent crude rose above $97 after a survey showed China's factory activity unexpectedly picked up in September, helping brighten the demand outlook.
Gold rose as the dollar eased after comments from a NY Fed official that any increase in interest rates should be done cautiously.
The battered euro pulled away from a 14-month trough against the dollar, as the greenback eased after a 10-week streak of gains.
Asian stocks ended mixed on Tuesday following Chinese factory data but trade was quiet with Japan shut for the Autumnal Equinox holiday.
Stocks fell Monday, retreating from record levels, as China signaled it would not boost stimulus.
Wall Street looked set to open lower again on Tuesday, after the U.S. announced it had launched airstrikes in Syria.
European shares closed down on Monday, with sentiment curbed by lower commodity prices as well as an profit warning from supermarket Tesco.
Brent crude fell below $98 a barrel on Monday as sluggish demand and abundant supplies outweighed a possible cut in oil output from the OPEC.
The dollar index racked up a 10th straight week of gains on Monday, its longest winning streak since its free float in 1973.
Asian markets started the data-light week on the back foot, with major indices posting steep losses.
Wall Street looked set to start the week lower, following the buzz around Alibaba's market debut and the Scottish referendum last week.
Stocks rose Friday amid enthusiasm for Alibaba's market debut and relief over voting in Scotland.
European shares closed higher after voters in Scotland rejected independence and opted to remain within the United Kingdom.
Gold settled nearly 1 percent lower on Friday, logging a third straight weekly drop, as the dollar rallied.
U.S. crude oil fell, notching its fourth daily decline on continued concerns about ample supply at a time of weak data and fragile demand.
The dollar rose against a basket of major currencies on Friday as investors bet U.S. interest rates would rise more quickly than expected.
Asian shares rose on Friday following liquidity boosting measures from China and after Scottish voters decided against independence.
Wall Street futures pointed to higher open on Friday, with Europe shares boosted after Scotland voted against independence from the U.K.
Stocks rose Thursday as investors continued to relish the Federal Reserve's renewed vow to keep rates low.
The U.S. Treasury bond yield curve flattened on Thursday, with longer-dated notes rising while shorter-dated ones fell.
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Euro zone annual inflation held steady at 0.2 percent in July, far below the European Central Bank's target.
A U.K. withdrawal from the EU could trigger another Scottish independence referendum, said Nicola Sturgeon, the First Minister of Scotland.
Japan's inflation target remains out of reach, with June core CPI for June barely budging and as households unexpectedly stopped spending.