Brent crude futures, the international benchmark for oil, were at USD 55.28 per barrel at 0226 GMT, up 4 cents from their last close.
A U.S. official said more than 50 Tomahawk cruise missiles were fired from U.S. Navy destroyers in the eastern Mediterranean against several targets on a base in Homs. The operation appeared to have already been completed, a second official said.
Prices for front-month Brent crude futures, the international benchmark for oil, eased 7 cents from their last close to $50.73 per barrel by 0145 GMT.
Rupee on Monday closed near 17-month high and its performance has blown a lot of currencies out of the water, including the king: the US dollar. With the Indian currency gaining strength, tourists will have to shell out less for travel and this looks like an ideal time to plan a foreign holiday.
Brent crude oil was up 38 cents at $52.19 a barrel by 1050 GMT, recovering from Tuesday's slide to $50.25, its lowest level since November 30.
Concerns persisting about rising US inventories and few clear signs that OPEC will extend supply curbs beyond June.
Brent crude was yet to trade. On Thursday, it settled down 92 cents, or 1.7 percent, at USD52.19 a barrel, after slumping 5 percent the day before in its biggest percentage decline in a year.
The euro meanwhile rallied briefly against the dollar as the ECB said it no longer saw a deflation threat and would end some of its massive support for the eurozone economy.
US benchmark West Texas Intermediate (WTI) crude futures climbed 33 cents, or 0.66 percent, to USD 50.61 a barrel at 0032 GMT, after plummeting 5.38 percent to USD 50.28 per barrel in the previous session, hitting the lowest level since December.
US West Texas Intermediate (WTI) crude fell 32 cents, or 0.6 percent, to USD 52.82 a barrel as of 0107 GMT, after ending the previous session down 0.1 percent.
US West Texas Intermediate crude slipped 4 cents to USD53.16 a barrel as of 0042 GMT after settling down 13 cents in the previous session.
Brent crude futures dropped 20 cents, or 0.4 percent, to USD 55.70 a barrel as of 0459 GMT after settling 1.5 percent higher in the previous session.
US West Texas Intermediate (WTI) futures gained 10 cents, or 0.2 percent, to USD52.71 a barrel by 0039 GMT after dropping to its lowest since Feb. 9 in the last session. The benchmark Brent crude futures were yet to start trading after falling 2.3 percent on Thursday.
Crude stockpiles in the United States, the world's top oil consumer, rose by 1.5 million barrels last week, less than forecast, but touching a record at 520.2 million barrels after eight straight weekly builds.
Investors in the oil market are awaiting weekly inventories data from the U.S. Energy Information Administration due at 1530 GMT on Wednesday.
This is the level the OPEC heavyweight and its Gulf allies - the United Arab Emirates, Kuwait and Qatar - believe would encourage investment in new fields but not lead to a jump in US shale output, the sources said.
Brent crude oil climbed 0.2 percent to USD 56.09 a barrel, while US West Texas Intermediate added 0.1 percent to USD 54.04 a barrel.
U.S. crude stocks rose by 564,000 barrels in the week to Feb. 17, according to the Energy Information Administration (EIA), although the gain was below analysts' expectations for an increase of 3.5 million barrels.
The US West Texas Intermediate April crude contract, the new front-month future, was up 18 cents at USD 54.51 a barrel at 0228 GMT. On Tuesday, the March contract expired up 66 cents, or 1.2 percent, at USD 54.06, after peaking at USD 54.68, the highest since January 3.
US West Texas Intermediate crude was up 31 cents, or 0.6 percent, at USd 53.71 a barrel at 0218 GMT, after rising about 0.5 percent in a shortened session on Monday due to a US national holiday.
Brent futures were down 5 cents at USD 55.75 a barrel at 0245 GMT, while US West Texas Intermediate crude was unchanged at USD 53.40. Both contracts earlier rose slightly in quiet trading.
Fixing a rate cap for the fares at these newly inducted airports, the ministry has decided that flying to these facilities would not cost more than Rs 2,500 for an hour long flight.
The decision of the OPEC countries to cut output in an effort to reduce global glut has created ripples in the oil market. But, HPCL's Chief, MK Surana believes prices will not rise substantially.
The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017, and estimates suggest compliance by OPEC is around 90 percent.