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Comment: The failure of the vast economies of the region to diversify should be ringing alarm bells around the globe, writes Robert Springborg.
UK companies could also be hit by low oil prices, as trading partners in the Gulf are expected to tighten their belts in the coming year.
Iran's Bijan Namdar Zanganeh said "it is necessary for all companies and installations of the oil industry to be on full alert," in a statement published on Sunday.
The commander of Iran's Revolutionary Guards warned any country that attacks the Islamic republic will see its territory turn into the conflict's 'main battlefield'.
Comment: The Saudi-UAE list of demands would effectively place Qatar under guardianship, and undermine the principle of freedom of expression and national sovereignty, writes James Dorsey.