Qatari crisis exposes Gulf fault line

摘要

The Qatari diplomatic crisis has exposed a huge rift between key western allies in the region and yet another fault line in the Middle East. No short-term impact is expected on Qatari oil or gas shipping via the Strait of Hormuz, nor on Qatari pipeline gas exports to the UAE and Oman. However, Doha is unlikely to acquiesce easily to Riyadh's demands. Within a potentially protracted period of negotiation, any sign of crisis escalation is a concern for oil and gas markets.