(Bloomberg) -- A decision by a Saudi-led alliance to cut diplomatic ties with Qatar sent oil prices higher. Futures rose as much as 1.6 percent in New York. The development raises tensions in the world's biggest oil-producing region while increasing the prospect of supply disruptions from the Middle East, including OPEC members Saudi Arabia, Iran and Qatar.
To contact the reporter on this story: Ben Sharples in Hong Kong at bsharples@bloomberg.net.
To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net, Sungwoo Park at spark47@bloomberg.net, Jake Ulick
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