Dow futures for December delivery rose to $16.95 per barrel, a gain of 6 cents, or 4.1 percent.
The Dow is now up 1,100 points, or 0.6 percent, at 17,722.98.
The S&P 500 is up 0.2 percent at 2,903.55.
The Nasdaq Composite is up 1.2% at 4,878.80.
On Monday, the U.S. Bureau of Labor Statistics reported that jobless claims rose by 200,000 in October.