The latest snapshots of U.S. oil supplies are expected to show a mixed picture, with gasoline and distillate stocks rising and crude inventories falling.
Market expectations are growing that the Fed will further ease monetary policy by expanding its bond buying programme, as US lawmakers struggle to agree on a fiscal stimulus package.
Investors are looking ahead to two meetings between the Organization of the Petroleum Exporting Countries and its allies including Russia, a grouping known as OPEC+.