Last Friday, Saudi Arabia’s King Abdullah bin Abdulaziz al Saud passed away at age 90. The details of his death have not been released.
After his death, oil prices increased, but the future course of the prices is not supposed to change.
American crude increased 88 cents to $47.19 a barrel.
Whether gas prices rise or fall, King Abdullah’s half-brother Salman bin Abdulaziz will be named to the throne. He is 79 years old. For almost five decades, Salman was the governor of Riyadh, Saudi Arabia’s capital.
Abdullah was running Saudi Arabia since 1996 but was named King in 2005.