Analysts polled by Reuters expected weekly U.S. crude oil inventories to show a draw of 2.4 million barrels in the week ending Dec. 16.
Markets focused on the possibility of further U.S. interest rate hikes next year.
The Nasdaq 100 hit a fresh all-time intraday high, while the three major indexes closed within 0.75 percent of their record highs.
U.S. government debt prices were higher on Monday morning as investors await Fed Chair Janet Yellen's forthcoming speech on the jobs market.
Asian shares traded mostly higher on Tuesday with the exception of mainland China and Hong Kong markets weighed by continued yuan weakness.
European shares closed slightly lower on Monday as investors digested economic data from Germany.
The yen jumped on Monday on safehaven bids following news the Russian ambassador to Turkey was gunned down in the Turkish capital.
The oil market is waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC.
Gold extended its recovery from a 10-1/2-month low hit last week.
U.S. stocks closed slightly lower Friday, with financials lagging, following some renewed concern of geopolitical tension.
U.S. government debt prices were broadly higher Friday as investors continued to digest the Fed's decision to raise interest rates.
Asian markets started the week on the back foot, with the Japanese benchmark snapping 11-straight session of gains.
European shares closed higher on Friday after a mixed open as investors reacted to the Federal Reserve's rate hike and digested fresh data.
Asian shares turned positive as currency swings get attention.
The dollar edged higher on Friday, holding near 14-year highs touched after Wednesday's Federal Reserve meeting.
Gold steadied but held low due to a higher dollar, which had risen after a hawkish Fed this week.
U.S. stock index futures pointed to a higher open on Monday morning as traders eyed an unstoppable post-election rally.
Oil prices were stable as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts.
U.S. stocks rose on Thursday as investors digested a slew of economic data and the Federal Reserve's decision to raise interest rates.
U.S. government debt prices were lower Thursday morning after the Fed raised its benchmark rate by 25 basis points.