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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 were largely steady on Friday after jumping in the previous session, as investors assessed the risk of a wider Middle East conflict after reports that the U.S. was considering sending additional military assets to the region amid its war with Iran.
It is unclear how long the recovery can be sustained given that it relies on the U.S. military protecting tankers in the Persian Gulf.