Shares of energy producers rose after a diplomatic crisis emerged in the Persian Gulf region. A group of four Arab nations led by Saudi Arabia severed diplomatic ties with Qatar, a large energy producer accused of supporting Saudi rival Iran. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt accused the tiny Gulf state of backing terrorism and meddling in their affairs. "It's not clear what impact the spat will have on oil supplies," Citi Futures analyst Tim Evans wrote in a research note Monday, as reported earlier. "As with the larger regional tensions between Saudi Arabia and Iran, this may not mean any change in the level of cooperation regarding oil production policy where 'business is business' tends to be the rule."
-Rob Curran, firstname.lastname@example.org
Continue Reading Below
(END) Dow Jones Newswires
June 05, 2017 16:10 ET (20:10 GMT)