Oil prices were largely unchanged on Friday, as traders reacted to comments from Federal Reserves Chair Janet Yellen and reports of missile activity in Saudi Arabia.
The market was taking its cues from the movement in the dollar, which has been choppy following Yellen's remarks.
At one point, crude benchmarks were up as much as 2% before drifting lower. U.S. crude rose $0.5 cents to $47.38.
U.S. Interest rates
Meanwhile, the head of the Federal Reserve has said the case for raising US interest rates has "strengthened".
Speaking at an annual meeting of central bankers, Janet Yellen was cautiously upbeat about the US economy.
She spoke on the backdrop of economic growth and a stronger jobs market.
There has been growing expectation that US interest rates will rise this year. Some economists are saying that the next hike could even come next month.
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