CORRECTED - CORRECTED-Oil dips under $80 after rising on U.S. crude draw

(corrects headline to say crude draw)

* Eyes on equities markets, economy as tarders take profit

* Lower U.S. crude, fuel stocks had offered support

* Focus turns to U.S. jobs data due out on Friday

By James Topham

SINGAPORE, Nov 5 (Reuters) - Oil fell below $80 a barrel on Thursday, after a steep decline in U.S. crude inventories sent prices up 1 percent the previous day, as traders look to the fall in equities markets to take profits despite the weak dollar.

The U.S. dollar was moving towards recent multi-month lows on a basket of currencies on Thursday, after the U.S. Federal Reserve reiterated its commitment to keep rates low for months to come, but this did not help to lift oil. [FRX/]

U.S. crude for December CLc1 fell 61 cents to $79.79 a barrel by 0339 GMT, after settling up 80 cents on Wednesday.

London Brent crude CLc1 lost 59 cents to $78.30 a barrel.