Ammon News - Oil prices recovered in Asian trading on Wednesday on heightened Middle East tensions, but gains were capped by weak demand.

Brent crude futures rose 17 cents, or 0.16%, to $76.60 a barrel by 0615 GMT. U.S. West Texas Intermediate crude rose 17 cents, or 0.23%, to $73.37.

U.S. crude oil, gasoline and distillate inventories rose last week, according to market sources citing American Petroleum Institute figures on Tuesday.

The API figures showed crude stocks were up by 176,000 barrels in the week ended Aug. 2, the sources said, speaking on condition of anonymity. Analysts polled by Reuters had expected crude stocks to fall by 700,000 barrels.

Oil giant Saudi Aramco reported a 3.4% fall in second-quarter profit on Tuesday.

Gasoline inventories rose by 3.313 million barrels against analysts' expectations for a one million barrels draw, while distillate stocks rose by 1.217 million barrels, a bigger build than anticipated.

The U.S. Energy Information Administration is due to release weekly inventory data at 10:30 a.m. (1430 GMT) on Wednesday.

Reuters