Oil Prices skyrockets as 11 princes get arrested

Oil prices jumped to a 2-year high as princes and four ministers get arrested in Saudi Arabia.

Billionaire Prince Alwaleed bin Talal was arrested among a sweeping anti-corruption probe which puts more control in the hands of hands of its young Crown Prince, Mohammad bin Salman.

The arrests triggered oil prices to rise as U.S. crude went up to $55.91, and Brent futures were up 32 cents at $62.39 a barrel for the first time since July 2015.

Oil Prices will continue to rise at this stage as Mohammed bin Salman is strongly committed to anchoring the OPEC agreement deep into 2018.


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About the Author: Benjamin Diaz

Benjamin was hired as a freelance writer for Debate Report, he said television is just an idiot box unless you watch news.