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Oil prices gained in the international market today, climbing on the back of hopes of interest rate cuts by the US Federal Reserve. Brent crude futures rose by 0.5% to $64.01 a barrel. US WTI crude was traded 0.6% higher at $57.21. Central bankers across the US are set to meet today to begin their two-day meeting and will most likely lower borrowing costs for the first time in a decade.