On charges of supporting terrorism, the Saudi Arabia and its allies broke, on 5 June, diplomatic relations as Qatar. The decision was made after the country located on the Arabian Peninsula refuse the request of the American President, Donald Trump, to unite against extremism. The action escalates to the diplomatic crisis in the Middle East.
In the vision of Qatar, the request is unwarranted and unfounded. Response that caused the rupture of the country with the Bahrain, United Arab Emirates, Egypt, Yemen, Maldives, Libya, in addition to Saudi Arabia. The political isolation of Qatar can jeopardize the oil production cuts promoted by members of OPEC and producing countries.
After reacting initially high, the reflection of a threat to global oil supply reduction, which persists in the last three years, made the price of a barrel of oil dropped. In New York, the WTI for delivery in July lost 0.55 percent, worth $ $47.40 a barrel, while Brent ceded 1% and was trading at $ $49.44 a barrel.
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