U.S. stock index futures declined on Wednesday, tracking European shares lower as oil prices continued to slide.
Trade volumes in the market will likely be thin given the holiday season, with commodities in focus.
Front-month Brent and U.S. West Texas Intermediate crude futures traded lower around $37 per barrel on Wednesday, as the market remained under pressure from slowing demand and high supply.
A Citigroup analyst warned that any upcoming oil price boost would be short-lived.
"We do have a current physical supply-demand surplus. That fits with the price theme…that prices will be lower for longer," Tim Evans, an energy analyst at the bank, told CNBC on Wednesday.