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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 a third day on signs the conflict in the Middle East is escalating, threatening to hamper a recovery in energy flows from the region.
Oil fell to extend a run of alternating between gains and losses, as traders looked for further signals about Middle Eastern flows.