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Transcontinental geopolitical region
The Middle East is a geo-political region that is generally defined as encompassing all of Egypt and all of West Asia except for the Caucasus. It roughly corresponds with what was historically referred to in Western Europe as the Near East, which was juxtaposed with the Far East. Unlike West Asia's adherence to continental boundaries, the Middle East is demarcated by following political borders and consequently includes East Thrace in Southeast Europe because it is a part of Turkey.
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November WTI crude oil (CLX26) closed up +3.21 (+3.64%) on Thursday, and November RBOB gasoline (RBX26) closed up +0.818 (+2.53%).Crude oil and gasoline prices settled sharply higher on Thursday on signs of possible escalation of the US-Iran conflict. Surging freight costs to ship crude oil out of…