Countries Cut Ties With Qatar

Global oil prices extended gains Monday amid 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.

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Global Oil Prices Jump Amid Escalating Diplomatic Tensions Between Qatar and Gulf Region StatesGulf Region States

This article was written by a staff member of TheStreet.