Oil hovered above $79 a barrel Tuesday in Asia amid mixed global stock markets as investors looked to an EU summit to help fix Europe's debt and economic problems, the Associated Press reported. Benchmark oil for August delivery was down 4 cents at $79.17 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 55 cents to settle at $79.21 in New York on Monday. It has fallen from $106 early last month as signs of a global economic slowdown mount. In London, Brent crude for August delivery was up 25 cents at $91.26 per barrel on the ICE Futures exchange. In other energy trading, heating oil was up 0.6 cent at $2.54 per gallon while gasoline futures gained 1.4 cents at $2.51 per gallon. Natural gas fell 0.3 cent at $2.69 per 1,000 cubic feet.
