As equities stage a comeback on Wall Street, Crude oil prices gained some traction Wednesday, climbing close to $74 per barrel.

After a drop of 20 percent from its high for the year above $86 per barrel, oil has shown some recent volatility on the New York Mercantile Exchange.

Oil prices are frequently taking a cue recently from policy and stock movement in China. Rising 0.12 percent, the Shanghai composite index was flat on Wednesday.

Adding $1.22 from a prior settlement, July delivery crude oil futures reached $73.80 per barrel, down from an intraday high of $73.93.

It was reported that heating oil prices gained 0.0535 cents to $2.0239 per gallon. Adding 0.066 cents, reformulated gasoline blend-stock prices went down to $2.0485 per gallon.

It was further reported that Henry Hub natural gas prices rose 0.0189 cents to $4.437 per million British thermal units.

According to the reports of AAA, at the pump, the national average price for unleaded regular gasoline dropped to $2.723 per gallon from Tuesday's $2.727. (With Inputs from Agencies)