Terror Ties. The Energy Report "Oil prices are getting a look at terror premium as 4 Arab Gulf States, led by Saudi Arabia, cut diplomatic ties with Qatar as another terror attack takes place on the streets of London. Terror is becoming a top issue around the globe as ISIS took responsibility for the slaughter on London Bridge.
The Saudis said the action to break off relations was taken because of Qatar’s “embrace of various terrorist and sectarian groups aimed at destabilizing the region” and it’s clear they are talking about not only rouge groups, but Iran backed groups like the Muslim Brotherhood, al-Qaida and ISIS. Bahrain, Egypt, and the United Arab Emirates joined the Saudi move that Qatar says is being taken because of “baseless accusations”. Qatar’s backing of Iran on many issues is causing strain in relations between OPEC members. For energy, the way this plays out, can have large impact on prices."
https://blog.pricegroup.com/2017/06/05/terror-ties-the-energy-report-060517/