A thaw in the trade relationship between China and the United States and talk of $80 oil put crude oil prices squarely in rally mode in Tuesday trading. Without naming specifics, Bloomberg News reported Tuesday that Saudi Arabia is gunning for $80 for the price of oil to build value for the initial public offering of Saudi Arabian Oil Co., known also as Saudi Aramco. The report stated that Riyadh was careful not to put a target on the price of oil, though “people who have spoken to them” said the goal was $80 per barrel. Usually any talk from Saudi Arabia, the de facto head of the Organization of Petroleum Exporting Countries, is […]