Oil rises amid US economic relief package talks

Crude oil prices were slightly higher on Thursday, after recording a decline of more than 6% in September, amid decision by the US lawmakers to postpone a vote on a $2.2 trillion coronavirus relief package. 

US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi failed to reach an agreement on the relief package, and plan to continue the discussions.  

Brent crude was rose 0.2% to $42.39 a barrel, at 8.55 am Makkah time.  

US West Texas Intermediate (WTI) crude futures also rose 0.2% to $40.29 a barrel.  

Meanwhile, demand concerns continue to trouble with COVID-19 infections rising in parts of the world. The pandemic has infected more than 34 million globally and the deaths have crossed 1 million mark.