Oil futures price rose to $82.15 in early trade driven by speculative buying linked to favorable refinery runs in Southeast Asia. Market watchers believe this trend could continue if refinery utilization rates remain above seasonal norms. Factory activity in Texas expanded in September, but at a slower rate than in August , according to a Dallas Fed survey. New orders and the growth rate of orders both fell on the month, while prices paid for raw materials increased — though at a slower clip than in August. Saudi Arabia’s Spending Spree Meets Oil Price Reality Oil futures price slipped to $80.97 in afternoon trading, as fresh US manufacturing data signaled slower industrial momentum. Macro-sensitive traders have adjusted positions, with volatility indicators showing a slight uptick.
