Oil slides due to Gulf diplomatic crisis

As diplomatic clash emerges between OPEC member, specifically between Saudi Arabia and Qatar, earlier gains of oil has erased out. Futures slipped 0.6% in New York, erasing an earlier gain of 1.6%. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt said they will suspend air and sea travel to and from Qatar, escalating a crisis that started over its relationship with Iran.

Source: IraqDirectory.com

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