Reuters with the headline from 'State News Agency':

  • Saudi Arabia cuts ties with Qatar, says this is for protection of national security
  • Cuts all land, sea and air contacts with Qatar

More:

Egypt cuts ties with Qatar

  • Accuses Qatar of supporting terrorist groups

More ... UAE (United Arab Emirates) also cutting ties with Qatar

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Oil is barely changed. I would have though we'd see a bit of upward pressure on it with these sorts of developments.

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Earlier, Bahrain said on Monday it cut diplomatic relations with Qatar

  • Accusing Qatar state of backing terrorism and interfering in Bahrain's internal affairs
  • Bahrain also cutting air and sea contact with Qatar and was giving its citizens in Qatar 14 days to leave
  • Bahrain gives Qatari diplomats 48 hours to leave
  • AP: Bahrain blamed Qatar's "media incitement, support for armed terrorist activities and funding linked to Iranian groups to carry out sabotage and spreading chaos in Bahrain" for its decision.