Markets Live Updates: Oil prices open lower on demand concerns, remain on track for weekly gain

Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data.Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a barrel, on track for a 5.2% weekly increase.