Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania.
After falling to their lowest settlement levels this year, oil prices were mixed in early Asian trade, as economic uncertainty and the possibility of higher interest rates pressured prices.
At 0107 GMT, the price of crude rose 17 cents, or 0.2%, to $79.52 a barrel. The benchmark was below $80 for the second time in 2022 last session.
Tuesday's slump was the largest daily decline in Brent prices since September, which has traded in a $62 range this year.
Wall Street benchmarks fell on Tuesday due to uncertainty around the direction of Federal Reserve rate hikes and further talk of a looming recession.
There are strong economic data and hawkish signals from other policymakers that spark these fears.
Data released on Monday showing U.S. services industry activity picked up unexpectedly in November and last week's robust U.S. payrolls report raised doubts about how soon the Fed might ease monetary policy.
Oil prices have dropped by more than 1% for three consecutive sessions, giving up most of their gains for the year.
China's service sector activity has hit a six month low, and European economies have slowed due to the high cost of energy and rising interest rates.