NYMEX-Crude inches down after settling above $80

TOKYO, Nov 5 (Reuters) - U.S. crude futures inched lower but held above $80 on Thursday, a level it had closed at a day earlier for the first time in eight sessions after U.S. crude inventories showed an unexpected decline.

FUNDAMENTALS

* NYMEX crude for December delivery was down 19 cents at $80.21 a barrel by 2345 GMT, after settling up 80 cents at $80.40 on Wednesday.

* Wednesday's gains came after data from the U.S. Energy Information Administration showed crude inventories declined by 4 million barrels in the world's biggest consumer last week, countering analyst expectations for an increase. [EIA/S]

U.S. gasoline stockpiles fell by 300,000 barrels last week, against expectations for a slight build, while distillate inventories dropped a less-than-expected 400,000 barrels, according to the EIA.

* Oil, which has gained more than $3 a barrel in the past three days, also got support from a weak dollar.

* The Federal Reserve's Open Market Committee expressed confidence that a U.S. economic recovery was building -- which could spur more demand for crude -- but it stuck to an earlier commitment to keep interest rates near zero for "an extended period" to help usher the economy out of recession.

MARKETS NEWS

* U.S. stocks rallied but lost steam on Wednesday after the Federal Reserve said it would keep rates near zero for "an extended period" even as it expressed confidence in the economic recovery. [.N]

* The dollar fell against most currencies in choppy trading on Wednesday after the Federal Reserve left interest rates steady, as expected, and said it intends to keep interest rates low for an "extended period." [USD/]

DATA/EVENTS

* The following data is expected on Thursday:

- 1200 GMT--U.K. Bank of England Rate Decision/Nov

- 1245 GMT--ECB Rate Decision/Nov

- 1330 GMT--U.S. Initial jobless benefit claims/Weekly

- 1330 GMT--U.S. Productivity-labor costs/Q3

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PRICES Oil prices as of 2345 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude DEC9 $80.21 -0.19 +$0.80 +1.01% $77.73 Heat Oil DEC9 208.39 -0.63 +1.69 +0.82% 201.07 RBOB DEC9 200.84 -0.43 +1.23 +0.61% 195.67 Natgas DEC9 $4.726 +0.001 -$0.197 -4.00% $4.783 ICE Contracts Brent DEC9 $78.98 +0.78 +$1.56 +2.04% $75.37 Gasoil NOV9 $642.00 +15.75 -$2.00 -0.32% $617.88 Note: U.S. heating oil and RBOB gasoline contracts listed in cents per gallon. * = 20-day moving average for continuation month. (Reporting by Osamu Tsukimori; Editing by Edwina Gibbs)