Locate the exact spot where the pipes are banging by running the oil burner and listening for noise. Mark the location of the noise with a piece of colored tape so you can find it again once the furnace is off.
Shut off the power to the burner and verify the pipes are cool before continuing. This helps prevent risk of injury.
Wrap a foam rubber pipe fitting around the section of piping that is banging. The rubber sleeve acts as a noise suppressor that pads the pipe so it doesn't make noise as it vibrates.
Use a drill to screw a pipe clamp around the pipe and into a wall stud or a joist as close to the banging pipe section as possible to help minimize its vibration. This also eliminates the banging noise.