European stocks are expected to trade lower Monday, while U.S. equity futures slipped into the red, as investors pull back from multi-year highs on global financial markets amid a resurgent greenback and rising oil prices.

Britain's FTSE 100 is slated to open around 10 points, or 0.12% lower at the start of trading, according to financial bookmakers IG, although oil majors could boosted the benchmark higher after global crude prices hit the highest levels since July 2015 in overnight Asia trade following a dramatic series of arrests in Saudi Arabia following a crackdown on corruption in the Kingdom. Germany's DAX index is priced for a 10.7 point, or 0.08% decline while Switzerland's blue-chip SMI may fall 9.5 points.

On Wall Street, the Dow Jones Industrial Average is priced for a small 6 point decline, according to U.S. equity futures, while the broader S&P 500 may slip 3.25 points, or 0.13% at the opening bell. Earnings on tap for Monday include CVC Health Corp (CVS) - Get Report , Sysco Corp (SYY) - Get Report and Tenet Healthcare (THC) - Get Report while investors will also get a reading on domestic employment trends for the month of October.

The U.S. dollar index, a measure of the greenback's strength against a basket of six global currencies, traded at a four-month high of 95.02 overnight as investors extended bets that a House Republican plan to cut taxes by as much as $1.5 trillion over the next ten years would boost growth and inflation prospects and possibly accelerate the Federal Reserve's rate-tightening cycle.

Overnight in Asia, stocks pulled back modestly from multi-year highs amid a jump in oil prices linked to the Saudi crackdown, which led to the arrest of Prince Alwaleed bin Talal, the head of the country's main investment vehicle, Kingdom Holding Co., and its "Vision 2030" investment fund. 

Brent crude futures for January delivery, the benchmark for global prices, added 0.53% from their Friday close to trade at $62.40 in early London dealing, the highest level since around July 2015. WTI futures for the same month were seen 0.71% higher at $56.04 per barrel.

The broadest measure of regional shares, the MSCI Asia ex-Japan index, slipped 0.03% from its 10-year high last week nearing the end of the session while the Nikkei 225 was essentially unchanged at 22,548.35 points -- still within a whisker of a 26-year high - by the closing bell.