Oil climbs after Saudi Arabia detains princes and dozens of former officials

Oil prices were higher on Monday after Saudi Arabia detained dozens of high-profile figures — including 11 princes, former ministers, and the billionaire Prince Alwaleed bin Talal — in a new anti-corruption probe headed by the kingdom's powerful Crown Prince Mohammed bin Salman.

Brent crude oil, the international benchmark, was up 0.7%, at $62.50 a barrel, at 8:28 a.m. ET., Business Insider reports.