U.S. stocks closed higher Wednesday on rising crude oil prices and tech stocks.

The Dow ended 123 points higher at 21,532-a new high close.

The S&P added 17 points to end the day at 2,443 and the Nasdaq rose 67 points to close at 6,261.

Twitter and Facebook rose 3.3 percent and 2.3 percent, respectively.

Crude prices also posted gains following the release of data by the Energy Information Administration that showed that U.S. inventories fell by 7.6 million barrels, countering market expectations of a 2.8-million-barrel decline.

At the close, American benchmark West Texas Intermediate was trading at $45.44, posting a 0.9 percent gain, while international benchmark Brent crude was at $47.70, up 0.4 percent.