Dow Jones industrial average futures are down 49 points to 12,912. Standard & Poor's 500 futures are off 6.5 points to 1,356.80. The Nasdaq composite index is slipping 10 points to 2,591.50.
Oil has edged below $109 per barrel, but is trading more than 13 percent higher than it was a month ago and closed Friday at its highest point since May.
In London, the FTSE 100 index is down 0.05 percent at 5,935. Germany's DAX is off 1.1 percent to 6,789. The CAC-40 in France fell 1.2 percent to 3,426.
U.S. stocks to watch include Lowes Cos. The home improvement retailer says fourth-quarter profit rose 13 percent.