Dhaka, July 16 -- Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy.

Prices have seesawed in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that US tariffs on trading partners will slow economic growth and fuel consumption.

Brent crude futures rose 36 cents, or 0.5 per cent, to $69.07 a barrel by 0646 GMT. US West Texas Intermediate crude futures were up 47 cents, or 0.9 per cent, to $66.99, according to Reuters.

That reversed two days of declines as the market downplayed the potential for s...