Oil reached over $82 a barrel this morning, following two weeks of losses.

Crude for new front-month January delivery was up 37¢ to stand at $82.35 a barrel by 23.58 GMT yesterday, while January ICE Brent was up 60¢ at $84.94 a barrel, reports Reuters.

The December contract, which suffered its largest percentage decline since the week to 13 August 2010, expired on Friday.

The US dollar index fell below major support around 78.27-37 to 78.14, down 0.5% on the day following Ireland’s rescue deal.