Crude futures recovered from early weakness on Thursday amid concerns about tight supplies after Russia imposed a ban on fuel exports. However, the contract failed to hold gains and ended slightly down.
Traders also noted the Russian government's announcement that it will restrict exports of gasoline and diesel, aiming to stabilize prices.
Oil prices fell earlier in the session on concerns higher interest rates and economic slowdown could hurt energy demand.
West Texas Intermediate Crude oil futures for November settled at $89.63 a barrel, down $0.03, despite rallying to $90.98 from a low of $88.37 a barrel.
Brent crude futures ended lower by $0.23 at $93.30 a barrel.
Russia temporarily banned exports of gasoline and diesel to all countries with immediate effect in order to stabilize the domestic fuel market.
"The oil market just finished pricing in the extension of a 300,000 bpd oil export cut, and now faces uncertainty as to how long this temporary ban will last. A stronger dollar is limiting today's oil price rally as it comes along with a deteriorating outlook for Europe," says Edward Moya, Senior Market Analyst at OANDA.
