>Oil price increases may have more to do with US $ weakness rather than inherent strength in worldwide demand. If the US $ halts its current slide, look for oil prices to fall and the Cdn $ to do the same.

Then how do you explain that the gasolin prices are up in Cdn $ at the pump?

On the other hand, the US $ will stop its slide when the recovery is on a firm footing. Then look out for higher demand for oil, which in turn will translate to higher oil prices.