Oil Rises On Inauguration Day As Markets Eye Big Stimulus Act

Oil prices rose for a second consecutive day on Wednesday, as the market expects the incoming U.S. Administration to “act big” in the next COVID relief package.   As of 9:17 a.m. ET on Wednesday, which is Inauguration Day for President-elect Joe Biden, WTI Crude was up 1.53 percent at $53.77, and Brent Crude prices were trading above $56 a barrel—up by 1.16 percent at $56.52, very close to the 11-month high prices hit last week. The U.S. dollar dropped after Treasury Secretary nominee Janet Yellen told the Senate Finance…