Share prices on Thursday were up 0,7% at the close in New York, according to data from the US Commodity Futures Trading Commission.
The S&P 500 was up 0% and the Dow Jones Industrial Average was up 1%.
The index of oil prices, which tracks global oil prices through Monday, was up 2%.
“It’s still very volatile,” said Jefferies Group head of commodity strategy and investment services, Andrew Schmitt.
“This is a time when you don’t know what’s going to happen and the market is always unpredictable.
You don’t have to panic.”
Brent crude, which is the benchmark for oil prices and is traded on futures markets, was trading at $48.30 a barrel at the time of publication.
“There’s nothing to indicate this will change,” said Schmitt, adding that oil prices tend to rebound in times of political unrest.
“The markets are resilient but it’s still not a good time to be holding.”
US stock markets are also feeling the impact of a global economic slowdown that has also been slowing global demand.
On Friday, US crude futures rose to $51.10 a barrel from $48 a barrel earlier in the day.
Brent crude is trading at about $47.60 a barrel.
In Australia, the Australian dollar is trading slightly higher at $1.0899 US to the Australian cents.
Brent is down about 2% this week.
In Europe, the German DAX index has lost 3% this year and the Italian FTSE index has fallen 3% in the past month.
The Italian index of companies that trade in the euro also is down 3%.
“I think we’re just in the beginning of the crash, but it seems to be coming on a little bit quicker than we expected,” said Andrew Miller, a commodity analyst at Rabobank in New Zealand.
“I am starting to see the tail end of this and it’s going really fast.
I think we will see a big selloff soon.”
The Dow Jones industrial average rose 0.9% and Nasdaq fell 1.1%.
US stocks were down 0.3% in Europe and the S&p 500 lost 0.4%.
Dow Jones dropped more than 0.5% in Asia, with the Shanghai Composite down 0,6% and Hong Kong shares down 0% on the back of the US stock market slowdown.