Oil exports from Libya have slowed considerably for months due to security issues at major ports. But officials said ports could open within a week, the Wall Street Journal reported.
On the New York Mercantile Exchange, West Texas Intermediate crude slid off of a six-week peak, dropping $1.02 to $97.49 per barrel.
Reformulated gasoline blendstock for January gave up 1.82 cents to $2.6647 a gallon.
January heating oil added 0.27 cents to reach $3.02 a gallon while natural gas added 10 cents to reach $4.34 per million British thermal units.
The national average price of unleaded regular gasoline dropped slightly to $3.257 a gallon from Tuesday's $3.259 a gallon, the AAA Daily Fuel Gauge Report said.