NEW YORK, Nov 5 (Reuters) - U.S. crude oil futures slipped
on Thursday amid caution about the economy and fuel demand,
despite data showing jobless claims fell last week.

"There were still 500,000 new (jobless) claims and the
economy is still muddled. While the EIA data had crude supply
lower, product supplies weren't very much lower even though
refinery use fell 1.2 percentage points," said Gene McGillian,
analyst at Tradition Energy in Stamford, Connecticut.

The number of U.S. workers filing new claims for jobless
insurance fell more than expected last week to a 10-month low,
the Labor Department said, with continuing claims dropping to
the lowest since March. [ID:nN05106320]

Much anticipated October U.S. non-farm payrolls employment
data is set for release on Friday.

Early dollar strength had helped pressure oil, but the euro
traded well off its session lows against the dollar after
European Central Bank president Jean-Claude Trichet said the
euro zone economy will recover next year. [ID:nN05112310]

U.S. non-farm productivity in the third quarter rose at its
fastest pace in six years, government data showed on Thursday.
[ID:nN05106320]

Wall Street was higher at the open on Thursday. [.N]

The U.S. Energy Information Administration's oil inventory
report on Wednesday showed crude oil stocks down 4 million,
against an expectation for a build. [EIA/S]

Distillate supplies fell less than expected and gasoline
supplies fell slightly, against expectation of a small rise.

U.S. total oil product demand over the past four weeks was
down 4.5 percent from a year ago, the EIA said in its report.

EIA natural gas storage data is set for release on Thursday
at 10:30 a.m. EST (1530 GMT). A Reuters survey of analysts
forecast storage rose 31 billion cubic feet last week.

PRICES

* On the New York Mercantile Exchange, at 10:15 a.m. EST
(1515 GMT), December crude CLZ9 was down 63 cents, or 0.78
percent, at $79.77 a barrel, trading from $79.58 to $80.52.

* In London, December Brent crude LCOZ9 fell 59 cents, or
0.75 percent, to $78.30 a barrel, trading from $78.03 to
$78.95.

* NYMEX December RBOB RBZ9 fell 0.61 cents, or 0.3
percent, to $2.0066 a gallon, trading from $1.9917 to $2.0155.

* NYMEX December heating oil HOZ9 fell 1.56 cents, or
0.75 percent, to $2.0746 a gallon, trading from $2.0690 to
$2.0920.

* The December/December RBOB crack spread <0#RB-CL=R> was
at $4.51, after ending at $4.13 on Wednesday. The
December/December heating oil crack spread <0#CL-HO=R> was at
$7.34, after ending at $7.39 on Wednesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $13.15, based
on the December 2014 contract Wednesday settlement at $92.92.
The spread ended Wednesday at $12.52.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $79.16/$78.17

Technical support/resistance:

NYMEX crude: $78.16/$82.00

NYMEX heating oil: $1.9650/$2.1289

NYMEX RBOB: $1.9330/$2.0751

For a full report on technicals, click on [ID:nL5040502]

MARKET NEWS

* Ida strengthened into a hurricane as it approached the
Caribbean coast of Nicaragua on Thursday, the U.S. National
Hurricane Center said. [ID:nN0599086]

* OPEC measures on output are not necessary for now,
Germanico Pinto, Ecuador's minister for nonrenewable natural
resources, told Reuters on Thursday. [ID:nN05110764]

* Mexico shut the Dos Bocas oil exporting port Wednesday,
leaving two of three main crude oil export terminals closed due
to bad weather, the government said. [ID:nN0464680]
(Reporting by Robert Gibbons; Editing by Lisa Shumaker)