Oil futures rose 4% early Tuesday, buoyed by optimism that President Obama's economic stimulus and bank rescue plans will boost the ailing U.S. economy. Crude oil for March delivery rose $1.58, or 4%, to $41.15 a barrel in electronic trading on Globex. "Oil prices were higher as market participants re-adjust their positions ahead of the key vote on the U.S. economic stimulus plan," said Nimit Khamar, an analyst at Sucden Financial Research. "Optimism over the package has been one of the key reasons for oil prices holding around the $40 mark, so market participants will be anxiously waiting for its approval."
