Oil prices climbed on Wednesday after plunging almost 4 percent Tuesday night.

The West Texas Intermediate for December delivery added 0.29 U.S. dollars to settle at 45.27 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery gained 0.32 U.S. dollars to close at 46.36 dollars a barrel on the London ICE Futures Exchange.