Energy Information Administration reports in recent weeks have pegged U.S. stockpiles at levels unseen since the 1930s.
On the New York Mercantile Exchange, West Texas Intermediate crude oil shed $1.14 overnight to $93.07 per barrel.
Gasoline prices lost 0.13 cents to $2.8363 a gallon. Home heating oil dropped 1.9 cents to $2.854 a gallon. Natural gas added 0.7 cents to reach $4.031 per million British thermal units.
At the pump, the average price of a gallon of regular unleaded gasoline was $3.588 Wednesday, up from Tuesday's $3.582, the AAA Fuel Gauge Report said.
'SNL': 'Anchorman 2' cast, One Direction sing 'Afternoon Delight' [VIDEO]
Selena Gomez drops F-bomb, walks off stage during Jingle Ball performance