Rivalry between monarchies and the rise in oil

The rivalry between Saudi Arabia and the United Arab Emirates has reflected in the price of oil. The clash between the nations, which are the world's largest producers and publicly exposed their differences, caused negotiations at the OPEC+ meeting to be halted. The discord directly reflects the value of oil which is the largest in six years.

The conflict began two years ago, when the Emirates withdrew its troops from Yemen and has been getting worse ever since. Last week, the UAE rejected a proposal involving Saudi Arabia. Through this scenario, where nations have been carrying out species of retaliation with each other, it is not yet possible to know whether there will be agreement.

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