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Oil Rebounds in New York After Biggest Decline in Two Weeks

Dec. 29 (Bloomberg) -- Oil rose in New York, rebounding from the biggest decline in two weeks. Crude for February delivery gained as much as 49 cents, or 0.5 percent, to $99.85 a barrel in electronic trading on the New York Mercantile Exchange and was at $99.79 at 7:56 a.m. Singapore time.

The contract yesterday fell $1.98 to $99.36, the biggest drop since Dec. 14 and the first in seven days.

To contact the editor responsible for this story: Paul Gordon at

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