UPDATE 1-Brent rises above $102 as U.S. stimulus worries ease
* Brent gains for fourth session in a row
* Gasoline stock build in U.S. caps gains
* Investors eye next week's non-farm payrolls
* Coming Up: Euro zone economic sentiment 0900 GMT
SINGAPORE, June 27 (Reuters) - Brent crude rose for a fourth session in a row on Thursday to trade above $102 a barrel as weak U.S. economic data eased concerns the U.S. Federal Reserve will soon reduce its monetary stimulus, underpinning commodities.
Brent crude for August delivery rose 53 cents to $102.19 a barrel by 0424 GMT, after settling 40 cents higher at $101.66 a barrel in the previous session.
U.S. crude was up 38 cents at $95.88 a barrel.
The U.S. government on Wednesday slashed its estimate of first-quarter economic growth to a 1.8 percent annual rate, down from a previous estimate of 2.4 percent.
"The weaker Q1 GDP numbers ... show us that there are still blindspots in the U.S. economy and that probably means the Federal Reserve will be very conservative in pulling the plug on stimulus," said Carl Larry, president of Houston-based investment consultancy, Oil Outlooks and Opinions LLC.
And while that should support commodities and other high risk investments, the numbers may also indicate poor demand growth in the world's largest economy and biggest oil consumer.
"This is the clearest indicator that the U.S. economy is now just taking baby steps towards recovery, and that is not enough to get the demand back to pre-2008 (economic crisis) levels," Larry said.
The gains in the Brent benchmark were capped by an unexpected spike in gasoline inventories in the United States during its summer driving season.
U.S. gasoline stocks surged 3.65 million barrels in the week ended June 21, data from the U.S. Energy Information Administration showed on Wednesday. Analysts polled by Reuters had expected a more modest build of 900,000 barrels.
Brent is down 8.5 percent for the quarter so far. It may be set for a third straight quarterly loss, after having slipped last week when Fed Chairman Ben Bernanke signalled the U.S. central bank may ease off bond buying and on concerns of an economic slowdown in China.
Investors are now turning their attention to U.S. nonfarm payrolls data due next week to gain further clarity and direction over the U.S. economy.
"This is the more definitive number for the Federal Reserve, because we know that they are comfortable with inflation levels, but unemployment is still not where they want it to be," said Lee Chen Hoay, investment analyst at Phillip Futures in Singapore.
(Editing by Richard Pullin and Tom Hogue)