Bloomberg reported oil prices changed very little despite diplomatic conflict between Saudi Arabia and Iran, which demonstrates the atypical state of the oil market.
According to Bloomberg, tensions between OPEC members would generally result in higher oil prices.
On Sunday, Saudi Arabia severed its ties with Iran after protesters set fire to its embassy in Tehran, according to Bloomberg.
Bloomberg reported that Iran has requested decrease output from OPEC members, which is opposed by Saudi Arabia and its allies.
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