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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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Oil rose on Friday after China halted fuel exports, while the US sends more forces to the Mideast as it urges Europe to draw down more emergency diesel.
Investing.com -- Oil turned higher on Friday, reversing earlier losses driven by improving Middle East crude flows and a move by the Group of Seven countries to release emergency crude stocks in order to help bring global prices down, especially of diesel.
China's crude oil imports are expected to stay flat for the rest of the year as Brent tops $100 and cheap Iranian supply vanishes, with analysts cutting Q4 forecasts to 9.2-9.3 million bpd.