Oil prices open lower on demand concerns, remain on track for weekly gain
Oil rose last session as fears of a global economic slowdown were eased by strong earnings reports and better-than-expected U.S. economic data. U.S. second quarter gross domestic product grew at 2.4%, beating the 1.8% consensus, the Commerce Department said Thursday, supporting U.S. Federal Reserve Chairman Jerome Powell's view that a the economy can achieve a so-called "soft landing."
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