U.S. stock index futures pared gains on Tuesday as crude oil prices advanced.

S&P 500 futures rose 3.6 points and were above 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 added 18 points and Nasdaq 100 futures were up 8.75 points.

April crude futures put on 1 percent to $97.90 per barrel, up from flat levels earlier. Concerns over how high oil prices could affect economic activity pressured equities last week.