Oil prices rose near $71, their highest close in two weeks, driven by technical support and higher natural gas prices. This is also after the West Texas Intermediate crude held above its 100-day moving average, a key technical level. Algorithmic traders flipped to a net-long position in Brent crude last week.
Source: https://www.bloomberg.com/news/articles/2024-12-29/latest-oil-market-news-and-analysis-for-dec-30