European markets also look set for a lacklustre start, with financial spreadbetters predicting Britain's FTSE 100 will open 0.3 percent lower, Germany's DAX will begin the day down 0.1 percent and France's CAC 40 will be flat at the open.

Brent crude slipped 0.2 percent to $53.05 a barrel after surging as much as 3 percent on Monday. US crude futures dipped a similar amount to $51.26, after jumping to a four-month high in the previous session.

The overnight gains came after Russia said it was ready to join the Organisation of Petroleum Exporting Countries in limiting crude output and Algeria called for similar commitments from other non-OPEC producers.