World oil prices are not stable in trading Wednesday 10 August 2011, In New York, a barrel of light sweet crude or West Texas Intermediate (WTI) for September delivery ended at 82.89 U.S. dollars, or 3.59 U.S. dollars higher than Tuesday's close.
In London, Brent North Sea crude oil for September rose 4.11 dollars to 106.68 dollars a barrel, after earlier reaching a peak at 107.11 U.S. dollars.
Crude oil prices were intercepted by a greater concern over the euro zone debt which threw the veil over all financial and commodity markets, plus rising concerns about slower growth in the United States, analysts said.
However, prices have fallen so much in the last two weeks that traders call a bottom (bottom) to the market on Wednesday. "We certainly have to worry about the potential decline in credit ratings of France and Italy, and the global growth story that has changed in the last few weeks," said Rich Ilczyszyn of MF Global