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macroJun 19, 2026, 7:10 AM

Oil Rises as US Markets Shut for Holiday, Focus Turns to Europe

Oil prices moved higher as US markets close for a holiday and attention shifts to Europe. UK politics also come into focus with Burnham preparing to challenge Starmer.

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Oil prices continued to climb on Friday as US markets were closed for a holiday, shifting investors' attention to European trading. The move comes after a week dominated by US tech earnings and economic data.

In UK politics, Labour MP Andy Burnham is preparing to challenge Prime Minister Keir Starmer, adding a layer of political uncertainty. Market participants will monitor any developments that could impact fiscal or energy policy.

With light US volume, European indices and currency pairs are expected to see heightened activity. The focus remains on the direction of oil and any geopolitical catalysts.

Source: FXStreet Forex News