Stock index futures cut gains on Friday, signaling Wall Street will likely open flat to slightly higher, after oil prices' earlier advance evaporated, offsetting news of some stabilization in banks.

Citigroup Chairman Richard Parsons told Reuters the bank does not need any more government capital injections and expressed confidence Citi would remain in private hands.

U.S. front-month crude was down 0.3 percent, or 14 cents at $46.89, after having come off from an earlier bounce of more than 2 percent.

(Reporting by Ellis Mnyandu; Editing by James Dalgleish)