Oil prices fell over 1 percent on Friday and were on course for a third weekly decline due to mounting concerns over a significant supply glut in the oil market and ongoing U.S.-China tensions.
Benchmark Brent crude futures were down 1.4 percent at $60.19 a barrel in European trade, while WTI crude futures fell 1.3 percent to $56.69.
Investors were focused on oversupply and the fallout from renewed U.S.-China trade tensions.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.