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Oil prices rose for a fourth session on Tuesday, encouraged by optimism that the Federal Reserve will cut interest rates this week for the first time in more than a decade, boosting growth in the economy. fuel demand at the world's largest oil consumer.
Brent crude rose 46 cents, or 0.7 percent, to $ 64.17 a barrel, following a 0.4 percent rise from the previous session, while US crude increased 41 cents, or 0 percent. , 7%, at 57.28 dollars a barrel, after rising 1.2% Monday.
US central bank officials began their two-day meeting on Tuesday and are expected to cut borrowing costs for the first time since the peak of the financial crisis more than a decade ago. US President Donald Trump has said that a slight reduction in interest rates "would not be enough".
The United States experienced a slower than expected slowdown in economic growth in the second quarter, spurring expectations of oil consumption, but disappointing economic data led to fears of slowing growth.
Oil prices rose on Monday, as US interest rate expectations overshadowed the pessimism sparked by trade talks between the two countries and fears of a slowdown in growth world economy.
John Keldof of Agin Capital Management said: "Prices seem to be up before this week's events." (Reuters)
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