UPDATE 6-Oil rises as fears fade of stimulus pull-back
* Brent gains for 4th session in a row
* Gasoline stock build in U.S. caps gains
* Investors eye next week's U.S. non-farm payrolls
(Updates prices; changes dateline, previous LONDON)
NEW YORK, June 27 (Reuters) - Brent crude oil rose for a fourth straight session on Thursday, gaining over $1 a barrel as conviction strengthened that monetary stimulus measures from major central banks would stay in place for the time being.
Brent crude for August delivery was up $1.27 at $102.93 a barrel by 11:46 a.m. EDT (1546 GMT). It was on track for its longest stretch of daily gains since mid-March.
U.S. crude was up $1.53 cents at $97.03 a barrel.
U.S. GDP data on Wednesday that slashed the estimate of first-quarter economic growth assured investors that the Federal Reserve would be in no hurry to scale back its massive bond-buying program, a sentiment reiterated in a Thursday speech by New York Federal Reserve President William Dudley.
"I think all the markets took a hit on the misinterpretation of Ben Bernanke's comments last week. Since then it seems like Fed governor after Fed governor has been walking those comments back, and that's helping a lot of asset classes including oil," said John Kilduff, partner at Again Capital LLC in New York.
European Central Bank President Mario Draghi also offered the markets reassurance, highlighting on Wednesday downside risks to euro zone growth and saying monetary policy would stay accommodative.
Turmoil and outages in oil-producing regions also lent support to Brent, the international benchmark contract.
Five people were killed and nearly 100 wounded in clashes between rival armed militias in Libya's capital on Wednesday, Health Minister Nurideen Doghman said.
Output at Britain's Buzzard oilfield in the North Sea is expected to stay at reduced levels around 170,000 barrels per day (bpd) for around five days, an industry source said on Thursday.
Traders also cited tightness in the Urals market which was spilling over into Brent and U.S. crude.
Large stockpiles in the U.S. of crude oil and gasoline suggest a limit on how far prices can rise.
U.S. gasoline stocks surged 3.65 million barrels in the week ended June 21, in the summer driving season, data from the U.S. Energy Information Administration showed on Wednesday. Analysts had expected a more modest build of 900,000 barrels.
Brent is down more than 6 percent for the quarter so far, on track for a third straight quarterly loss after falling last week on concerns about an economic slowdown in China and comments by Fed Chairman Ben Bernanke that signalled the bank might ease off bond buying.
This would amount to the longest stretch of quarterly losses since late 1997 into 1998.
Brent crude oil prices are forecast to decline further this year and next, pressured by a potential slowdown in Chinese oil demand growth and swelling supplies, a Reuters poll showed on Thursday.
Investors, meanwhile, turned their attention to U.S. non-farm payrolls data due next week to gain further clarity on the economy and prospects for monetary policy.
"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.
(Additional reporting by Simon Falush in London and Luke Pachymuthu in Singapore; Editing by Chris Reese)