Gulf states had hoped this would be a year of de-escalation in the region. They wanted calm to focus on ambitious plans to diversify their economies. Now the region’s oldest conflict has roared back to life. For one Gulf monarchy, Qatar, which has supported Hamas, the immediate goal is self-preservation. Saudi Arabia and the United Arab Emirates, however, want to weaken Hamas, forestall a wider confrontation with Iran and somehow keep alive their vision of an autocratic but more peaceful and prosperous region. It is a delicate and dangerous balancing act.