On the New York Mercantile Exchange, a climbing dollar index undermined oil prices, which dropped under $72 per barrel on Tuesday.

With the euro hitting a four-year low against the U. S. dollar before trading began after the Memorial Day holiday, the dollar index rose 0.23 percent.

It was reported that the euro dipped to $1.2233.

To reach $71.94 per barrel, July delivery crude oil prices lost 64 cents from a prior settlement.

Shedding 0.0099 cents from a prior settlement, heating oil prices went down to $1.9605 per gallon.

Reformulated gasoline blend-stock prices lost 0.011 cents to $1.9715 per gallon.

It has been reported that Henry Hub natural gas prices lost 0.02 cents to $4.228 per million British thermal units.

According to the reports of AAA, the national average price for unleaded regular gasoline at the pump, dropped to $2.727 per gallon from Monday's $2.732. (With Inputs from Agencies)