Oil reaching $80us a barrel, should get Origin back to $10.00, as long as the price stays there for a while. A little snippet from todays AFR.
It was oil however that stole the limelight overnight with both Brent crude and US oil surging 3 per cent after Bloomberg reported that Saudi Arabian officials have been signalling their intent to see oil reach the $US80 a barrel level.
Both benchmarks have risen roughly 5 per cent in the past two trading days. Brent peaked at $US71.34 a barrel before easing slightly late in New York, according to Bloomberg pricing, the highest since December 2014.
"It's not so much 'risk on/risk off', as it is 'trade war on/trade war off' and, at the moment, we're 'trade-war off,'" London Capital Group's Jasper Lawler said.
Read more: http://www.afr.com/brand/before-the-bell/asx-futures-down-wall-st-higher-as-oil-rallies-20180410-h0ylkv#ixzz5CJBPhHPM
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