Stock market of Qatar has collapsed because of diplomatic scandal

The stock market index of Qatar QE All Share fell in the course of trading at 8.21 percent, according to the stock exchange of the country.

Most significantly, shares fell QNA Qatar national Bank — 10 percent.

The sharp drop in prices due to the fact that Monday, June 5, Saudi Arabia, UAE, Bahrain, Egypt, Yemen, Maldives and Libya announced the severance of diplomatic relations with Doha.

As reported diplomatic scandal also affected the oil quotes. In particular, by 12:00 the cost of the August futures for Brent crude grew to 50.26 per barrel. The price of July futures on WTI increased to 48,01 dollars per barrel.

In addition, the part of the airlines canceled flights in connection with the Qatar scandal.