U.S. stock index futures pointed to a higher open on Wednesday as oil prices rose on hopes of an agreement to freeze output. Investors also awaited Thursday's European Central Bank meeting.
Dow futures briefly gained 100 points, while S&P 500 and Nasdaq futures also pointed to a higher open.
After a torrid close for commodity-related stocks on Tuesday, with energy slumping around 4 percent and materials down 2 percent, Brent prices rose past $40 per barrel again early on Wednesday. U.S. crude oil futures also traded higher, above $37 a barrel.
Producers in and outside OPEC plan to meet in Moscow on March 20 to discuss an output freeze, an Iraqi oil official told state newspaper Al-Sabah.
Wednesday also marks the seventh anniversary of the bull market and the S&P 500 is up 193 percent since the close on March 9, 2009.