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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 prices rose sharply Thursday following a report the U.S. is sending a third aircraft carrier strike group to the Middle East.
Activity in the oil and gas sector further expanded in third quarter 2026, according to oil and gas executives responding to the Dallas Fed Energy Survey.
U.S. oil and gas producers increased output for a second consecutive quarter despite extreme commodity-price volatility complicating investment and planning decisions.