Bullioguru’s”Oil prices jump after Saudi Arabia cuts ties with Qatar”

Live NEWS Update

Oil prices rose sharply in European trading on Monday, after Saudi Arabia and three other countries severed diplomatic ties with Qatar, fueling concerns over geopolitical instability in the Middle East.

The U.S. West Texas Intermediate crude July contract rose 52 cents, or around 1.1%, to $48.18 a barrel by 2:50AM ET (0650GMT).

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