US crude dipped to its lowest level in about three months amid persistent oversupply concerns.
The S&P 500 index was on track for its best weekly gains in a year, while markets in Frankfurt and Tokyo edged higher as European Central Bank President Mario Draghi offered the strongest hint yet that bank will unveil fresh stimulus measures at its December 3 meeting.
"The comments support expectations of additional, possibly aggressive, stimulus at the (ECB's) December policy meeting," said Shaun Osborne, Chief Currency Strategist, at Scotiabank in Toronto.
By contrast, investors in recent days have increasingly registered expectations that the US Federal Reserve will raise interest rates next month.
The Dow Jones industrial average rose 138.33 points or 0.78 percent to 17,871.08, the S&P 500 gained 12.15 points or 0.58 percent to 2,093.39 and the Nasdaq Composite
 added 31.73 points or 0.63 percent to 5,105.37.
Nike shares rose 4.7 percent, boosting the S&P index after the sportswear maker unveiled a USD 12 billion share buyback program.

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