Oil was range bound as the market balanced a draw down in domestic stockpiles against technical sell points that put a lid on oil prices.
Stocks rose on Thursday after upbeat data from China and on the U.S. jobs front.
The Treasury auctioned $16 billion in 30-year bonds at a high yield of 3.440 percent. The bid-to-cover ratio, an indicator of demand, was 2.09.
European markets closed higher on Thursday as European Central Bank President Mario Draghi hinted at possible stimulus measures next month.
Gold ended lower on Thursday, extending the previous day's more than 1 percent drop, after the ECB it may act to stem falling inflation.
U.S. crude oil prices jumped by more than 1 percent after a government report showed a sharp drop in inventories in the United States.
U.S. crude fell after a rally topped out, while Brent fell as the market awaited developments in the Ukraine conflict.
U.S. stock index futures traded higher on Thursday, after better-than-expected China trade data and calming Ukraine tensions.
Asian stocks were mixed on Friday following a subdued Chinese inflation report and as traders kept a close eye on developments in eastern Ukraine.
U.S. stocks fluctuated on Wednesday as investors cycled out of so-called momentum stocks.
U.S. stock index futures signaled a mixed Wall Street open on Wednesday ahead of Federal Reserve Chair Janet Yellen's congressional testimony.
The Treasury auctioned $24 billion in 10-year notes at a high yield of 2.612 percent. The bid-to-cover ratio, an indicator of demand, was 2.63.
European markets closed mixed on Wednesday on reports that Russian President Vladimir Putin was willing to discuss the Ukraine crisis.
The euro trod water in early European trade on Wednesday with all eyes on euro zone inflation numbers due later.
Gold settled lower, but flaring tensions between government forces and pro-Russian separatists in Ukraine helped to minimized the metal's losses.
Gold prices settled nearly 2 percent lower on Wednesday as investors took profits from a run-up spurred by geopolitical concerns.
Asian shares rebounded on Thursday following the previous day's sharp sell-off as investors await trade figures from China.
The US Dollar, euro and British pound are all falling following a meeting of the European Central Bank.
Asian equities were sharply sold off on Wednesday on mounting concerns that Ukraine was on the brink of a civil war.
Stocks fell Tuesday after American International Group reported a decline in profit.
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