Oil climbs above $64 a barrel after Saudi crackdown
Oil surged above $64 a barrel to the highest level in two years on Monday after Saudi Arabia’s crackdown on dozens of princes and business tycoons raised concerns about stability Continue Reading
Oil Hits Two-Year High Amid Crackdown in Saudi Arabia
Oil has rallied in recent months, climbing more than 30% from lows hit in June. Escalating tensions in the Middle East have helped fuel the rise, with investors becoming more Continue Reading
Did Oil Markets Overreact To The Saudi Purge?
Saudi Arabia’s powerful crown prince led a massive purge over the weekend, ousting around a dozen royal cousins in a bid to consolidate power. The removal and detentions of so Continue Reading
Purge of Saudi princes, businessmen widens, travel curbs imposed
A campaign of mass arrests of Saudi Arabian royals, ministers and businessmen widened on Monday after a top entrepreneur was reportedly held in the biggest anti-corruption purge of the kingdom’s Continue Reading
Saudi purge takes kingdom into unpredictable new era
The wave of arrests and ministerial changes in Saudi Arabia at the weekend has fundamentally transformed the structure of the state as it has existed since the 1960s. Saudi Arabia has Continue Reading
Saudi crackdown adds jitter premium to oil prices
Crude oil prices extended deeper into record territory on Monday as bullish sentiments set in and nerves rattled over a corruption crackdown in Saudi Arabia. “Oil bulls are alive and kicking,” Continue Reading
What the royal purge means for Saudi Arabia — and its oil
The Saudi leadership shake-up and wave of arrests over the weekend have rattled potential investors in the kingdom’s ambitious modernization drive to create a new city, diversify the economy and Continue Reading
Saudi Banks Begin Freezing Accounts Of Arrested Royals, Private Jets Grounded
Two days after the most stunning purge in recent Saudi history, the so-called “anti-corruption probe” – which was really a countercoup – that led to the arrest of dozens of Continue Reading
Aramco oil reserves audit two-thirds complete, may not be finished in 2017: sources
An audit of Saudi Aramco’s oil reserves is unlikely to be completed before the end of 2017 because of the huge scale of the task, sources familiar with the matter Continue Reading
Saudi Arabia accuses Iran of ‘act of war against the kingdom’
Saudi Arabia has stepped up its bellicose rhetoric against Iran, with the powerful crown prince accusing the country’s regional arch-rival of supplying missiles to Yemeni rebels in “an act of Continue Reading