CNBC Daily Open: Burnham Set to Take Helm of UK as Trump Urges North Sea Oil Expansion

Andy Burnham is set to become the UK's new Prime Minister, entering Downing Street amid immediate pressure from US President Donald Trump to open up North Sea oil exploration. Trump claimed this would transform the UK from a 'poverty stricken disaster' to one of the richest countries. However, Labour deputy leader Lucy Powell indicated Burnham would not overturn a manifesto pledge to end new exploration licences, though he may push for further drilling in existing fields. Meanwhile, oil prices rose following intensified US-Iran attacks, with American casualties and Iranian drone strikes on Gulf neighbors. In corporate news, Boeing announced plans to replace its 737 Max fleet by 2030, and Spain won the FIFA World Cup, defeating Argentina 1-0 in extra time.

First published Aug 4, 02:53 PM UTCUpdated Jul 20, 06:07 AM UTC1 reports · 1 sources

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Opened from WirecurrentJul 20, 06:07 AM UTC

CNBC Daily Open: Burnham Set to Take Helm of UK as Trump Urges North Sea Oil Expansion

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CNBC Daily Open: Burnham Set to Take Helm of UK as Trump Urges North Sea Oil ExpansionUS Top News and AnalysisWesternJul 20, 06:07 AM UTC

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Andy Burnham Donald Trump United Kingdom United States Iran Boeing FIFA Spain Argentina North Sea Kuwait Bahrain Jordan Russia Ukraine