Oil prices head lower Thursday, with U.S. prices on track to finish at their lowest in about a month as traders weigh prospects for energy demand.

U.S. gross domestic product is expected to have grown 2.4% in the first quarter, according to economists polled by Dow Jones.

Investing.com-- Oil prices settled higher Thursday, shrugging off demand worries as weaker U.S. growth data and signs of higher inflation dimmed the outlook for rate cuts at a time when Middle East geopolitical are receding.

Oil prices settled lower on Wednesday, with pressure from U.S. data showing a drop in weekly demand for gasoline outweighing support from the first drop in commercial crude supplies in five weeks.

Investing.com-- Oil prices edged higher Thursday after disappointing U.S. growth data raised the possibility of earlier than expected rate cuts by the Federal Reserve, potentially boosting economic activity later in the year.