Despite robust demand sustained by the global economy's resilience in the face of inflation and high interest rates, oil struggled to maintain its momentum.
U.S. stocks traded mostly higher toward the end of trading, with the Nasdaq Composite gaining around 50 points on Wednesday.
The Dow traded down 0.01% to 33,736.15 while the NASDAQ rose 0.42% to 13,619.46. The S&P 500 also rose, gaining, 0.14% to 4,364.45.