Oil prices climbed for the second consecutive day on Wednesday as there are prospects that the new US administration’s stimulus package will eventually lift global economic growth and oil demand. At 1515 hours GMT, Brent, the global benchmark for two-thirds of the world’s oil, went up by 1.06 percent to $56.49 per barrel, whereas US crude gauge West Texas Intermediate (WTI) increased by 0.91 percent to $53.46 per barrel. The price for Opec Basket was recorded at $53.92 a barrel with 1.39 percent fall, Arab Light was available at $56.81 a barrel after an increase of 2.38 percent while price of Russian Urals remained unchanged at $42.22 a barrel.