Oil rose close to $82 this morning with expectations of a new round of monetary stimulus from the US Federal Reserve weakening the dollar.

US crude for December increased 43¢ to stand at $81.86 a barrel at 03.46 GMT while London ICE Brent was up 13¢ to $83.28, according to Reuters.

The Federal Reserve is expected to commit a fresh round of bond purchases to infuse additional funds into the sluggish economy.