Oil prices muted on a wide scale on Wednesday as the market is mixed post the release of U.S. crude inventories figures that nudged up in unpredicted way.

Brent crude futures added 0.5% at $80.53 per barrel while U.S. West Texas Intermediate (WTI) crude futures climbed by 0.3% to $75.37 per barrel.

The two main gauges edged up the past couple of days, bouncing from major selling that took place at the beginning of this year.

According to API's released data, last week's US crude oil stockpiles surged by 14.9 million barrels while distillate stocks jumped by 1.1 million barrels, the results shocked the markets and puzzled them as it went beyond expectations.

According to a poll conducted by Reuters, projections hovered around a drop in crude inventories.

The slump of the oil markets was caused mainly by concerns over the probability of a slowdown in the economy and retreat in the demand due to the spiked rate by Fed to curb the soared inflation.