Oil prices were largely unchanged on Friday in a volatile session, as traders reacted to comments from Fed 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 percent before drifting lower. Brent crude futures settled at $49.92, up 25 cents or 0.5 %. U.S. crude ended the session 31 cents higher at $47.64.

The market was primed to react to Yellen's speech in Jackson Hole, Wyoming, as her remarks initially caused a big rally in the dollar, which caused oil to slip. Later, the dollar pared those gains, with the dollar index at one point down as much as 0.5 %. It was later up 0.8 %. [FRX/]

Oil prices touched the day's highs after reports of Yemeni missiles hitting Saudi Arabia's facilities, traders said. Saudi state TV reported that a projectile fired from Yemen hit a power relay facility in Najran, in the southern part of Saudi Arabia.

 Oil prices were down over 2 % for the week as the Saudi energy minister watered down expectations that the world's largest producers might agree next month to limit their output.

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