Saudi Arrest of High Profile Figures, including Prince Al-Waleed bin Talal

Helmholtz Watson

Oil Hits 2 year highs after Saudi Purge

Brent futures LCO up over half a percent at $62.51 a barrel.
U.S. crude CL added half a percent to $55.94.
Stocks down in fear of Mideast money pull out[/b]

Shares in French hotel group Accor (ACCP.PA) -1.7 percent at open on CAC 40 after its third biggest shareholder Prince Alwaleed bin Talal was one of arrested in the Saudi Arabian crackdown.

Prince Alwaleed is a nephew of the king and owner of investment firm Kingdom Holding 4280.SE, invests in firms such as Citigroup (C) and Twitter (TWTR)

Risk backlash against Prince Mohammed bin Salman from these elites that undermines his authority and raises the Saudi risk premium.