We’re on a rollercoaster ride right now.
The Dow Jones was up 1.79% overnight.
President Xi of China got the credit for his conciliatory remarks about opening up China’s economy further.
This lessened tensions surrounding the trade war rhetoric.
Aussie stocks rallied strongly yesterday.
Will this clear the air for the ASX 200 to move back up above 6,000 points?
But the index isn’t the most interesting place to be watching right now.
If I had to pick the market most likely to make you money right now — and fast — it’s this…
Saudi Arabia keeps trying to rig market
In my view, there’s no better bet in the market right now than the oil sector.
The word around Saudi Arabia at the moment is that head honchos want oil to hit US$80 a barrel for the Brent benchmark.
It’s US$71 now, after rising 3% in recent trade.
Saudi Arabia wants higher oil prices in part to fund its heavy domestic spending.
It also wants to support the coming part-privatisation of the national oil company, Saudi Aramco.
The Crown Prince of Saudi Arabia admitted as much to Time magazine recently.
Here’s the catch: The Saudis can’t control the price of oil. The only thing they can do is drop production from existing fields to crimp supply.