Spat in the Gulf Region Sends Oil Futures Higher: Chart

Spat in the Gulf Region Sends Oil Futures Higher: Chart

(Bloomberg) -- A decision by a Saudi-led alliance to cut diplomatic ties with Qatar sent oil prices higher. Futures rose as much as 1.6 percent in New York. The development raises tensions in the world’s biggest oil-producing region while increasing the prospect of supply disruptions from the Middle East, including OPEC members Saudi Arabia, Iran and Qatar.