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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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Investing.com-- Oil prices ticked lower on Friday after jumping in the previous session, as investors weighed the risk of further escalation in the U.S.-Iran conflict against signs that some Middle East supply flows were recovering.
Middle East crude exports have rebounded toward pre-war levels despite continuing attacks on shipping, while refinery outages are keeping global diesel supplies tight.
Brent crude surged to $102.31 per barrel, breaking through the $100 mark and triggering a broad rally in South Korean refining stocks. The spike was…