Hi Jurek

I'm saying to my local friends here the same.Due to the weakness of the US $ the oil countries let the oil price go up to have the same amount in cash .Also gold is related to this.

So if the US economy will start to rise again the US $ will strengthen against the € and oil price could come down.In fact this oil price is not reflecting the underlying reserves but rather more the US $ decline which like you said is very clear to see in your chart.

I've posted once this on the off topic.It's in French but have no time to translate but I hope a lot of you can figure out what it means.In fact it's how goverments and oil companies are stealing on us.In fact the us $ has weakened against the € compared to 2 years ago but strange we pay more for our oil products .