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Oil prices jump after 4 Arab countries sever diplomatic relations with Qatar

Oil price rose after Saudi Arabia, Egypt, United Arab Emirates and Bahrain severed diplomatic relations with Qatar on Monday, while the pound slipped after the recent terrorist attack in London.

Qatar was accused of supporting for the "Muslim Brotherhood" and "Islamist movement".

Saudi Arabia is the world's largest exporter of crude oil. Abu Dhabi in the UAE is also a major oil exporter.

Qatar is the largest supplier of liquefied natural gas (LNG) and a major seller of condensate low-density liquid fuels, and oil-product obtained from natural gas.

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