I don't see logic to chase oil.It has limited upside from here. Moreover does oil really hedge Dollar, I don't think so.
Way I see things is american investors are trying to making Suadi's and middle east people rich (hostile countires). The way I see is : 1) Any reason they want to take oil high , low growth,high growth . 2) 100 barrel splits at canada pump,lets take oil higher.
It makes common sense to avoid these wrong judgements and look behind that. Oil should be traded between supplier and consumer. Paper oil is like black marketing.