Crude traded below $82 per barrel today as traders' cautious trend is evident ahead of the awaited Federal Reserve meeting scheduled for next week, and also the US midterm elections. Crude today hovers around $82 per barrel recording its highest around $81.99 and lowest around $81.32, while it currently is trading around $81.47 per barrel. The gain by commodities in the past few weeks has been due to the US Feds anticipated measures that will undermine the dollar, thereby causing it to plunge making dollar-based assets cheaper for other currency investors' to purchase. The Feds are expected to meet on November 2-3 to decide whether to apply QE2 to support the wanning recovery. Crude yesterday traded around $82 per barrel recording its highest around $82.61 and lowest around $81.49 per barrel, closing around $81.91 per barrel. Oil fell as traders await for more news from the Feds regarding QE plans, while confidence levels in financial markets have risen to push the dollar up and thereby making investors' to head towards riskier assets. On our economic agenda today, traders' are anxiously awaiting for the released of US GDP which will further provide clues over the state of the economy and the reflection that will hold on the world's second largest crude consumer. As for NYMEX as of 04:56 EST; motor gasoline fell 0.78% recording $209.750 per gallon; heating is trading around $222.750 per gallon losing $0.71; whereas natural gasoline added $0.31 to record $3.902. In London, Brent futures declined $0.72 to record $82.990.

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