REFILE-Oil below $79 as storm fears abate, stocks seen up

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* Threat of storm in U.S. Gulf of Mexico eases

* Higher U.S. crude oil stocks seen

* Price support from global stock surge, weak dollar

By Felicia Loo

SINGAPORE, Nov 10 (Reuters) - Oil prices eased to below $79 a barrel on Tuesday, as tropical storm Ida that cut U.S. oil and gas supplies was downgraded from a powerful hurricane and U.S. crude oil stockpiles were forecast to rise slightly.

A surge in global equities that cemented hopes of an economic recovery and a sharp fall in the U.S. dollar helped temper oil's drop.

U.S crude for December delivery CLc1 dropped 50 cents to $78.92 a barrel by 0311 GMT, after settling up $2 on Monday.

London Brent crude LCOc1 dipped 46 cents to $77.31.