Oil rises after attacks on ships in Hormuz, Bab el-Mandeb

In Libya, the country's National Oil Corporation said all fires at fuel storage tanks in the Zawiya oil complex were under control.

On the supply front, a Reuters poll showed that U.S. crude oil and fuel inventories were expected to have fallen last week.

However, market sources citing American Petroleum Institute data said U.S. crude inventories rose sharply, while gasoline and distillate stocks fell.

Crude stocks rose by about 9.1 million barrels, while gasoline and distillate inventories fell by 1.5 million barrels and 596,000 barrels, respectively, from the previous week, the sources said. The crude build far exceeded expectations and, if confirmed by the Energy Information Administration report later on Wednesday, could ease market concerns about supply tightness, Haitong Futures said in a note.

Official numbers from the EIA, the statistical arm of the U.S. Department of Energy, are due at 10:30 a.m. ET (1430 GMT).