Benchmark oil fell 31 cents to $92.08 per barrel in electronic trading on the New York Mercantile Exchange.
The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. The contract rose $3.06 to finish at $92.39 per barrel.
In currencies, the euro fell to $1.2861 from $1.2880 late Tuesday in New York. The dollar rose to 78.25 yen from 78.22 yen.