We study a one-dimensional transport equation with nonlocal velocity which was recently considered in the work of Crdoba, Crdoba and Fontelos [A. Crdoba, D. Crdoba, MA Fontelos, Formation of singularities for a transport equation with nonlocal velocity, Ann. of Math.(2) 162 (3)(2005) 13771389]. We show that in the subcritical and critical cases the problem is globally well-posed with arbitrary initial data in H max {3/2 , 0}. While in the supercritical case, the problem is locally well-posed with initial data in H 3/2 , and is globally well-posed under a smallness assumption. Some polynomial-in-time decay estimates are also discussed. These results improve some previous results in [A. Crdoba, D. Crdoba, MA Fontelos, Formation of singularities for a transport equation with nonlocal velocity, Ann. of Math.(2) 162 (3)(2005) 13771389].