* U.S. initial jobless claims up last week, weighs on oil * EIA's Wed rising fuel stocks data still weighs on oil * Weaker dollar, stronger euro offers some support * Coming up: EIA natgas storage data at 10:30 a.m. EDT NEW YORK, Aug 5 (Reuters) - U.S. crude oil slipped on Thursday, pressured by a report that initial jobless claims rose last week and by concerns about demand punctuated by the government's weekly data showing rising refined products stockpiles. U.S. initial claims for unemployment benefits unexpectedly rose last week, the Labor Department said, underscoring a weak labor market and the fragile economic recovery. [ID:nN0497678] Crude oil stockpiles fell more than expected last week, the U.S. Energy Information Administration said in a report on Wednesday, but gasoline stocks rose, against a forecast for a draw, and distillate stocks rose more than expected. [EIA/S] The stronger dollar on Wednesday and the jump in gasoline stocks, which weighed on RBOB gasoline futures prices, helped crude futures end slightly lower in the previous session. FUNDAMENTALS * On the New York Mercantile Exchange, September crude CLU0 fell 66 cents, 0.8 percent, to $81.81 a barrel by 8:57 a.m. EDT (1257 GMT), trading from $81.67 to $82.48. * The remnant of Tropical Storm Colin had a medium, 50 percent, chance of regaining tropical storm status later Thursday or Friday, but was not expected to reach the oil-rich Gulf of Mexico, the U.S. National Hurricane Center said. [ID:nN2005] * The United Arab Emirates aims to increase its oil production capacity to 3.5 million barrels per day by 2018 from the current 2.7 million bpd, said a government report released on Thursday. [ID:nLDE6740HT] OUTSIDE MARKETS * U.S. stock index futures extended losses after data showed the unexpected jobless claims rise. [.N] * Global shares eked out small gains with European stocks flat as inventors eyed meetings of the European Central Bank and Bank of England. The euro turned higher against the dollar, buoyed by a successful Spanish debt auction and upbeat German industrial orders. [MKTS/GLOB] [FRX/] * Gold held above $1,200 an ounce in Europe, heading for its seventh successive day of gains, on fund buying and Asian consumer demand. [GOL/] UPCOMING DATA/EVENTS * U.S. EIA reports domestic natural gas inventories for week to July 30, at 10:30 a.m. EDT (1430 GMT). Analysts surveyed by Reuters forecast on average a rise of 33 billion cubic feet. * Report on July U.S. nonfarm payrolls, 8:30 a.m. EDT (1230 GMT) on Friday. 8:57 LAST NET PCT LOW HIGH CURRENT DAY AGO

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