Saudi purge takes oil to 2 year high
Oil reached levels last seen more than two years ago as Saudi Arabian Crown Prince Mohammed bin Salman's anti-corruption drive shook the world's biggest crude exporter just weeks before major producers gather to discuss prolonging historic production caps. Futures advanced as much as 1.2 per cent in New York. The purge eliminated potential rivals to Crown Prince Mohammed bin Salman and included a member of the royal council overseeing state oil producer Saudi Aramco and one of its directors. The arrests of princes, government ministers and billionaires may cast a shadow over the November 30 Opec meeting.