| GEO Business|
| Oil hovers around 79 dollars in Asia|
| Updated at: 1153 PST, Friday, July 23, 2010|
SINGAPORE: Oil prices dipped in Asian trade after an overnight surge as investors await European banking stress test results for indications of the global economic outlook, analysts said.
New York's main contract, light sweet crude for September delivery, was down 28 cents at 79.02 dollars a barrel, while London's Brent North Sea crude for September dropped 38 cents to 77.44 dollars.