Stock index futures turned negative on Wednesday as Brent crude prices continued to tick up on intensified fighting in Libya and supply fears resurfaced.

S&P 500 futures dipped 0.9 point and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 26 points and Nasdaq 100 futures lost 2.25 points.

Brent rose 1.1 percent to $114.29 per barrel following two days of declines.