Bahrain Increases the Pressure on Qatar

Oil prices have been impacted by a brewing diplomatic row in the Gulf region that has seen several states cut diplomatic ties with Qatar over its alleged support for extremists.

In a joint move that has escalated tensions in the region over Qatar's alleged support for the Muslim Brotherhood, Saudi Arabia, Bahrain, Egypt and the United Arab Emirates (UAE) said Monday that Qatari diplomats have 48 hours to return to Doha and have closed transport links to the small nation inside the Persian Gulf. Yemen declared a similar intent in a separate statement a few hours later.

This article was written by a staff member of TheStreet.