The King of the Saudis created quite a stir among his people. He arrested or detained a significant number of the Royal family. Many of those were accused of financial improprieties or outright criminal acts. It seems that the long line of "princes" has gotten out of control. New King Salmanhas decided it's time to rein in the family and he used his supreme power as king to make it happen.
The resulting furor has caused turmoil in world financial markets related to the price of oil and the value of Aramco, the national oil company of the Saudis.
In an attempt to diversify its investments, the Saudi royal family(King Salman) has decided that the company should be taken public. An IPO is imminent. The price of oil per barrel has gone up to a two year high as a result. The funds generated by the IPO will be used for investments at home-infrastructure, education, and job creation. The population is tired of business as usual and is demanding more be done to help average citizens attain a modern society.
At the same time, the Saudi government has called a recent attack from Yemen(a missile that was said to have been destroyed) an act of war by Iran, the country which supports Houthi rebels in Yemen's civil war. Iran denies any collaboration with the act.
Stand by for more fireworks on the Peninsula.
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