Mubasher: Oil prices declined almost 1.5% on Friday, as investors became cautious ahead of U.S. jobs data that is expected to play into the Federal Reserve's decision on the timing of any U.S. rate hike.

Brent crude for October delivery LCOc1 dropped 75 cents to $49.93 a barrel as of 0654 GMT. Brent rose $50.87 a barrel earlier in the session on Friday.

U.S. crude for October delivery CLc1, known as West Texas Intermediate, fell 67 cents at $46.08 a barrel.