SINGAPORE (AP) – Oil prices lingered below $79 a barrel Tuesday in Asia after three days of losses as investors eyed a volatile US dollar.

Benchmark crude for December delivery rose 12 cents to $78.80 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.82 to settle at $78.68 on Monday.

Crude jumped to a 12-month high at $82 a barrel last week as the dollar weakened amid concerns that massive global stimulus spending will eventually spark inflation. Since oil is priced in dollars, a drop in the U.S. currency makes it cheaper to international investors.

The euro touched a 14-month high of $1.5061 on Monday before closing at $1.4861. The euro strengthened slightly to $1.4882 in early Asian trading while the dollar fell to 92.06 yen from 92.21.