Saudi Arabia, Egypt and Bahrain announced a break in diplomatic relations with Qatar, accused of supporting the Islamic State and terrorism. This decision, which is fraught with consequences, could lead Qatar to no longer comply with OPEC’s production quotas. Qatar is also a major gas producer.
QAT, (iShares ETF), which tracks the MSCI Qatar index, fell by 9% in response to this event.
QAT, weekly data :
