Oil prices reversed earlier losses on Friday as fears that escalating conflict in Libya could disrupt oil supplies from the OPEC member outweighed trade concerns.

Brent crude futures rose 34 cents to $69.74 a barrel by 1405 GMT, having touched $70.03 in the previous session, its highest since November 12. US West Texas Intermediate (WTI) crude rose by 49 cents to $62.59, having hit their highest since November 7 on Wednesday at $62.99.

Brent and WTI are on track for their second and fifth consecutive weeks of gains respectively, capped by concerns that an economic slowdown could dent fuel consumption.

Meanwhile, the metal prices continue to hinge on the US and China trade talks.

CNBC-TV18's Manisha Gupta caught up with T Gnanasekar of CommTrendz Research; Kunal Shah of Nirmal Bang; Naveen Mathur of Anand Rathi Share and stock brokers to understand what is the outlook going ahead for these commodities.

First Published:Apr 5, 2019 10:05 PM IST