With the current instabilty of the US economy and the USD doing weird somersaults over the last month or so now is not a good time to be looking at historic charts - seeing what the oil/USD relatiuonship was historically and expecting it to behave in a similar fashion.
The oil price drawn vs the Euro or vs the AUD might be more the way to go to see how much oil is weakening - if it indeed is.
It was always going to come back down from the spike - but the long term trend looks like it's intact - in the long term chart - provided by woddonnee ? above.
