Oil prices hit their highest since mid-2015 on Monday as Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown, while markets continued to tighten.
Brent crude futures rose $1.87, or 3 percent, to $63.94 a barrel by 12:04 p.m. ET (1604 GMT), after hitting a session peak above $64 going back to June 2015.
U.S. West Texas Intermediate (WTI) crude rose $1.50, or 2.7 percent, to $57.14 a barrel, breaking above $57 for the first time since July 2015.
Saudi Crown Prince Mohammed bin Salman tightened his grip with the arrest of royals, ministers and investors including prominent billionaire Alwaleed bin Talal and the powerful head of the National Guard, Prince Miteb bin Abdullah.
Analysts for now do not see Saudi Arabia, the world's largest oil exporter, changing its policy of boosting crude prices.