I don't think that it is eligible for the Oscars (for the Golden Globe yes), as *SPOILER* it appears as the final scene of the film. The nominees for Best Original Song at the Oscars should start right after the end of the movie (a.k.a. the crew list).

In 2012 Madonna won the Golden Globe with Masterpiece, but the song was uneligible for the Oscars, as the the first FEW SECONDS of the song started before the end of the movie (before the crew list).