At 03:10 a.m. ET, Dow futures were down 47 points, indicating a lower open of around 60 points. Futures for the Nasdaq and S&P 500 were also lower.
Market focus is largely attuned to corporate results, with major U.S. banks set to get the ball rolling later in the week. J.P. Morgan Chase & Co and Wells Fargo are both poised to report their latest figures on Friday. Concerns about U.S. earnings have dragged on U.S. equities in recent sessions, though a robust jobs report last week helped to soothe frayed nerves.
On the data front, NFIB small business optimism index numbers will be out at 6:00 a.m. ET, followed by JOLTS at 10 a.m. ET. The Labor Department's JOLTS report tracks monthly changes in job openings. On the earnings front, Levi Strauss will be reporting its first results since its IPO (initial public offering).
The moves in the oil prices came amid a recent resurgence in conflict in Libya, a key OPEC oil producer.
—CNBC's Sam Meredith and Eustance Huang contributed to this story.