Crude Oil Prices

crude oil prices: At 5 p.m., the dollar was at 117.53-53, up from 117.21-23 at the same time Tuesday. The euro was at $1.1466-1466, up from $1.1331-1331, and at 134.75-78, down from 132.82-83, according to The Japan Times. Risk-averse sentiment also receded as crude oil prices surged overnight, thanks partly to British oil major BP s announcement of its plan to cut back on investment, a step that could tighten the global oil supply-demand balance and The dollar rose above 117.50 in Tokyo trading Wednesday as receding worries about Greece s debt situation reduced flight-to-safety demand for the Japanese currency. Global investors sold assets perceived as offering safety, such as U.S. government bonds and the Japanese yen, in pursuit of stocks and other risk assets after the new Greek government reportedly pulled back calls for a politically sensitive writedown of its massive foreign debt. (news.financializer.com). As reported in the news.