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Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks.

Oil posted a weekly gain as prospects for a cease-fire in the Israel-Hamas war faded and Israel prepared to attack southern Gaza, increasing crude's geopolitical risk premium.

Oil notched a weekly gain while futures stayed in a narrow range, with the outlook for supply and inflation in focus.

Oil dropped for the third week out of the last four with China facing a large consumption hit and the Federal Reserve signaling that it will aggressively tighten monetary policy to curb inflation.

Oil posted its first weekly loss since June as low trading volumes left the market vulnerable to macroeconomic concerns, overshadowing signs of a tight physical environment.

Oil posted a weekly decline as algorithmic traders accelerated selling pressure after OPEC+ announced a plan to loosen its production curbs.

Oil fell for the week as lingering concerns over a global economic slowdown overshadowed signs of improving US demand.

Oil posted a weekly loss with macroeconomic headwinds dominating the market as traders await clearer signals on Chinese demand trends.

'Low volatility coupled with difficulty in sustaining downwards momentum often signals an impending upside break'.

'Physical markets have tightened'.