Android project - Build Project failed

Hello,

I have Android project under IntelliJ IDEA 2016.3.4
Build #IC-163.12024.16, built on January 31, 2017
JRE: 1.8.0_112-release-408-b6 amd64
JVM: OpenJDK 64-Bit Server VM by JetBrains s.r.o

Over last months I was mostly using Gradle commands from terminal so not sure what change resulted in this issue. Running IDEA command 'Build Project (Ctrl+F9)' generates an error 'Error: 0' and IDEA log contains:

2017-02-18 18:20:50,348 [ 339550]   INFO - ij.compiler.impl.CompileDriver - COMPILATION STARTED (BUILD PROCESS)
2017-02-18 18:20:50,781 [ 339983]   INFO - s.plugins.gradle.GradleManager - Instructing gradle to use java from C:/app/Java/jdk1.8.0_121
2017-02-18 18:20:50,788 [ 339990]   INFO - ij.compiler.impl.CompileDriver - java.lang.ArrayIndexOutOfBoundsException: 0
    at com.android.tools.idea.gradle.invoker.GradleInvoker.findTasksToExecute(GradleInvoker.java:198)
    at com.android.tools.idea.gradle.compiler.AndroidGradleBuildProcessParametersProvider.populateGradleTasksToInvoke(AndroidGradleBuildProcessParametersProvider.java:181)
    at com.android.tools.idea.gradle.compiler.AndroidGradleBuildProcessParametersProvider.populateJvmArgs(AndroidGradleBuildProcessParametersProvider.java:162)
    at com.android.tools.idea.gradle.compiler.AndroidGradleBuildProcessParametersProvider.getVMArguments(AndroidGradleBuildProcessParametersProvider.java:75)
    at com.intellij.compiler.server.BuildManager.launchBuildProcess(BuildManager.java:1149)
    at com.intellij.compiler.server.BuildManager.lambda$null$10(BuildManager.java:744)
    at java.util.concurrent.Executors$RunnableAdapter.call(Executors.java:511)
    at java.util.concurrent.FutureTask.run(FutureTask.java:266)
    at com.intellij.util.concurrency.BoundedTaskExecutor$2.run(BoundedTaskExecutor.java:210)
    at java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1142)
    at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:617)
    at java.lang.Thread.run(Thread.java:745)
 
2017-02-18 18:20:50,910 [ 340112]   INFO - pl.ProjectRootManagerComponent - project roots have changed
2017-02-18 18:20:50,983 [ 340185]   INFO - lij.compiler.impl.CompilerUtil -     COMPILATION FINISHED (BUILD PROCESS); Errors: 1; warnings: 0 took 638 ms: 0 min 0sec
2017-02-18 18:20:51,249 [ 340451]   INFO - .diagnostic.PerformanceWatcher - Pushing properties took 9ms; general responsiveness: ok; EDT responsiveness: ok

Gradle builds (gradlew assemble, gradlew assembleDebug, etc) still succeed. It seems like Gradle integration with IDEA is broken somewhere.

Any ideas?

Thanks,
Andriy