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Oil Rises as Technicals Provide Support and Natural Gas Rallies

(Bloomberg) -- Oil settled near $71, the highest close in two weeks, supported by technicals and higher natural gas prices. Most Read from BloombergMigrant Crisis Pushed US Homelessness to Record High in 2024Detroit’s Michigan Central Is the Building Revival Story of 2024West Texas Intermediate crude held above its 100-day moving average, a key technical level that spurred more buying. Algorithmic traders on Monday flipped to a net-long position in Brent crude after being short since mid-October