It will always go up. Question is how fast it gets to £2. Probably a couple of years away yet unless the rise in oil accelerates into a mania. But £1.50 is definitely going to be the new benchmark soon. NY oil closed above $104 on Friday... the market tends to move forward after breaking a psychological barrier like that, and it's well out of the range it was stuck in over the last few months... so plain sailing for a while at least.

Our currency is rising against the dollar, but not enough to offset these gains in oil. The way people are thinking just now is that currencies in general are weak with central banks using 'stimulus', whereas oil is a very real finite commodity that looks to be under increasing demand with the growth in the east.

It's a no-brainer, just wish I'd bought crude ETFs in the high 60s when I was considering it.