Oil prices seek weekly gains amid renewed Middle East risk, with short-term swings.

International oil prices showed signs of moving into weekly gains as Middle East supply risks resurfaced. 7 on 9 trading, concerns about the economy prevailed and oil prices 2 ended the session lower.

On the next trading day, 7 on 10 there was a trend showing that supply-related risks in the Middle East would continue, and weekly performance moved with the aim of turning positive.

Some reports summed up the recent market trend as a 'resurgence of Middle East risk.' As a result, the previously relatively calm price trend became unsettled again.

The variables separating the two trends are geopolitical issues on the supply side and economic indicators on the demand side. Each news item had an immediate impact on short-term prices.

The market is reacting sensitively to events related to the Middle East and to upcoming economic indicators. From a short-term trading perspective, a single news item can move prices sharply.

The facts observed at present are as follows. Reemergence of Middle East supply risks has created weekly upward pressure. By contrast, oil prices have fallen sharply in the short term when economic concerns dominated.

The future trend could change quickly depending on the situation in the Middle East and the release of key economic indicators.