Crude wavers between Russia's positive statements and dollar's strength

Crude prices wavered on Friday before the weekend as the dollar rose against major rivals, weighing on commodities, while prices draw support from positive remarks by Russian oil minister. 

U.S. crude futures last traded at $50.63 a barrel, compared to the opening of $50.60, with an intraday high at $50.99, and a low at $50.19. 

Crude's dithering comes after a drop yesterday on profit-taking, as the dollar advances versus major rivals, weighing on crude prices according to their inverse relation. 

On the other hand, prices draw support from Russian oil minister Novak, as he said a reduction in oil output is important to support prices, and Russia will present suggestions to Russia about the production deal shortly. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.76 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.77, heading for the fourth weekly profit in a row.