Oil hits two-year high on Saudi purge, world shares retreat

collected by :Victor Alphen

FILE PHOTO: An investor looks at an electronic screen at a brokerage house in Hangzhou, Zhejiang province, January 26, 2016. REUTERS/China DailyOil prices reached their highest since July 2015 as Mohammed bin Salman's purge led to arrests of royals, ministers and investors including prominent billionaire investor Alwaleed bin Talal. The MSCI world equity index, which tracks shares in 47 countries was 0.1 percent lower. He was among 11 princes, four ministers and tens of former ministers detained, three senior officials told Reuters on Sunday. South Korea's KOSPI .KS11, which hit a record high last week, skidded 0.6 percent early on before paring losses to 0.3 percent.

Oil hits two-year high on Saudi purge, world shares retreat

LONDON (Reuters) - Oil jumped to its highest in over two years on Monday as Saudi Arabia's crown prince cemented his power through a crackdown on corruption, while world shares eased a notch and major currencies traded in tight ranges. FILE PHOTO - Passersby walk past an electronic board showing market indices outside a brokerage in Tokyo, Japan, October 23, 2017. The MSCI world equity index, which tracks shares in 47 countries was 0.1 percent lower. .MIWO00000PUSEuropean shares fell in early deals following weaker trading in Asia and earnings disappointments weighed. He was among 11 princes, four ministers and tens of former ministers detained, three senior officials told Reuters on Sunday.

Oil hits highest levels since 2015 amid tightening markets, Saudi purge

as mentioned in Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. [SINGAPORE] Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit US$62.44 per barrel early on Monday, their highest level since July 2015. Bin Salman's reforms include a plan to list parts of giant state-owned oil company Saudi Aramco next year, and a higher oil prices is seen as beneficial for the market capitalisation of the future listed company. "Synchronous global economic growth and new supply disruptions are creating the most constructive oil price environment since ... 2014," Barclays bank said.