The euro surged against the dollar late Wednesday after a CNBC report indicated that Greek and European Union officials have reached an agreement “in principle” on a plan to rework the country’s bailout.
The euro EURUSD, -0.21% traded at $1.1354, its highest level in two sessions, after trading in a tight range around the $1.13 level during Wednesday’s session.
Meanwhile, the dollar USDJPY, -0.14% traded at ¥120.41, its highest level since the closing compared with ¥119.35 late Tuesday.
The pound GBPUSD, -0.12% traded flat against the dollar and euro at $1.5250 and £0.7420 EURUSD, -0.22%
The euro traded flat against the dollar at $1.1315.
The ICE U.S. Dollar Index DXY, +0.02% a measure of the greenback’s strength against a basket of six rival currencies was 0.2% stronger at 94.9530.
Nymex gasoline for March RBH5, +0.03% —the benchmark gasoline contract—fell almost a penny to $1.543 a gallon, while March heating oil HOH5, +0.67% ended at $1.814, down 1.9 cents.
Meanwhile, natural gas logged a third straight session gain, with March natural gas NGH15, +0.18% jumping 4.5%, or 12 cents, to $2.797 per million British thermal units.
The increase in U.S. crude inventories shows no sign of a slowdown, and supplies are holding around an 80-year high despite declines in the number of rigs drilling for oil.
Oil futures settled below $50 a barrel after U.S. government data Wednesday showed a bigger-than-expected jump in weekly crude inventories.
On the New York Mercantile Exchange, crude for delivery in March CLH5, +1.25% settled at $48.84 a barrel, down $1.18, or 2.4%. Prices dropped more than 5% on Tuesday.
Brent crude for March delivery LCOH5, +0.77% fell $1.77, or 3.1%, to $54.66 a barrel on London’s ICE Futures exchange.