Energy markets have a new geopolitical fissure to contend with. On Monday, Saudi Arabia, Egypt, Bahrain and the United Arab Emirates severed relations with Qatar in a co-ordinated move that regional commentators labelled the worst diplomatic crisis to hit the Gulf in decades. In allegations flatly denied by the small peninsula nation, the quartet - later followed by governments in Yemen, Libya and the Maldives - accused Qatar of supporting terrorism. The Arab states also severed all land, sea and air traffic routes with the country.
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