Oil prices were higher on Thursday as Hurricane Delta led to closure of oil platforms in the US Gulf of Mexico. However, demand concerns continue to weigh with US oil inventories rising for the first time in four weeks.

 

Brent crude was trading up 0.3% at $42.12 a barrel, at 9 am Makkah time.

 

US West Texas Intermediate (WTI) crude futures rose 0.2% to $40.01 a barrel.

 

Hurricane Delta, which is forecast to intensify into a Category 3 storm with winds of up to 193 km per hour, led oil producers to evacuate 183 offshore facilities and halt nearly 1.5 million barrels per day of oil output.

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