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Oil Rebounds in New York After Biggest Decline in Two Weeks

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.

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