Oil Steady Near 2-Month High

SINGAPORE: Oil was steady on Monday after earlier touching a two-month high near $82 on expectations that the slow pace of the U.S. economic recovery will prompt a monetary boost that would spur energy consumption.

November US crude fell 11 cents $81.47 a barrel at 2:08 a.m. ET, after touching $81.87 earlier, the highest price since August 6. ICE Brent fell 10 cents $83.65.

U.S. manufacturing growth slowed last month and inflation remained subdued in August, leaving the door open for the Federal Reserve to launch a fresh round of monetary policy easing.

How fast that happens will depend on economic indicators to be released before the Fed's next policy meeting on November 2-3. Markets await durable goods orders for August on Monday and monthly non-farm payrolls on Friday. Oil Steady Near 2-Month High