LONDON, August 6, 2008 (AFP) - World oil prices remained weak on Wednesday as traders awaited the weekly US crude stockpiles report that could shed fresh light on the strength of global energy demand.

Brent North Sea crude for September delivery firmed five cents to 117.75 dollars per barrel in electronic trading.

New York's main contract, light sweet crude for September dipped 21 cents to 118.96.

Later on Wednesday, the US government's Department of Energy will release its report on American energy stockpiles in the week ending August 1.

Crude prices have slumped by 20 percent since hitting record highs above 147 dollars on July 11.

Oil sank further on Tuesday on stubborn worries about waning demand amid signs of slowing global economic growth, dealers said.

'The decline in oil prices largely reflects ongoing worries that oil demand has weakened, especially in the US,' said David Moore, a commodity strategist with the Commonwealth Bank of Australia in Sydney.

'As well, it appears that Tropical Storm Edouard has had only a limited impact on oil production in the Gulf of Mexico.'

The United States is the world's biggest energy user, and slower economic growth tends to weigh on global oil demand projections.