It is very difficult for us to understand this parable. Why are ten virgins waiting outside for the bridegroom? Why do they need lamps? Even scholars are not sure. What is definite is that these virgins are not the brides. Our best guess is that they are more like bridesmaid; they are waiting to process the bridegroom into his feast.
Let us forget about the foolish virgins and consider two details about the wise virgins. First, they have flasks of oil with them. What do these flasks signify? We do not know. They are something extra, something beyond, but what they are is uncertain. After all the virgins fell asleep, they need what is in the flask. Perhaps it is prayer or study. The wise virgins had a stronger foundation of prayer and studying the Scriptures and the Catechism, so they were able to be ready when the time came.
The oil in the flask could also be a symbol of the Holy Spirit; oil often is used to symbolize the Holy Spirit. Then we would say that the light of faith burned out in those who were relying only on themselves for faith.
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but those who hope in the LORD will renew their strength.
They will soar on wings like eagles; they will run and not grow weary, they will walk and not be faint.