Oil prices rally above 47 dollars

Updated at: 1830 PST, Tuesday, February 10, 2009 LONDON: World oil prices rallied Tuesday as traders awaited a key vote on a massive US economic stimulus plan that could boost crude demand in the world's biggest energy consumer.Brent North Sea crude for March delivery climbed 1.09 dollars to 47.11 dollars a barrel in London trade.New York's main futures contract, light sweet crude for March, added 1.01 dollars to 40.57 dollars a barrel.The market had slid on Monday, ending below 40 dollars in New York, on jitters over the fate of the stimulus package which could help pull the United States out of recession, dealers said.US President Barack Obama warned Congress of "catastrophe" if it did not pass his stimulus plan this week, as America's dire economic plight cast a somber shadow over his first news conference.Obama piled more pressure on lawmakers to complete a long political tug-of-war over the 800-billion-dollar-plus package, with the once mighty US economy suffocated by staggering job losses and mired in a credit crunch.The Senate earlier voted 61-36 to end debate on its 838-billion-dollar version of the stimulus package, reviving hopes the final bill could end up on Obama's desk by his self-imposed deadline of February 16.