Open a small hole in the membrane it looks shrink wrapped.. if you can't see a beak it may be mal positioned. If there is any blood stop look like it may ned a little time but I would open a hole in the membrane to help with air to the chick.. keep it moist with the oil, you did good with the wet towel away from the egg, if wrapped in it the chick could get cold...
Slowly open a spot in the membrane where no veins are visible, you can kinda smooth it away with a finger gently. If any sign of blood stop