* Brent premium versus U.S. crude hits $20 * U.S. crude at Cushing hub at 9-month high * Brighter U.S. Fed outlook lifts dollar * Brent at near all-time peak in euro terms By Gene Ramos NEW YORK, March 14 (Reuters) - Crude oil futures fell back on Wednesday as U.S. crude stockpiles rose last week for the fourth time in a row and the dollar gained, tempering investor appetite for riskier assets such as oil and industrial metals. Crude stocks stored at the U.S. delivery hub in Cushing, Oklahoma, surged 2.5 million barrels to reach a nine-month high 38.7 million barrels, U.S. government data showed. Inventories there have risen for eight straight weeks, amassing the biggest eight-week gain since January 2009. In total, U.S. crude stockpiles increased 1.8 million barrels nationally, to 347.5 million barrels, in line with the forecast in a Reuters poll. "The build in Cushing stocks has widened Brent's premium to $20 and you're seeing the strength in the dollar discourage buying of riskier assets," said Hamza Khan, analyst at the Schork Group in Villanova, Pennsylvania. By 12:10 a.m. EDT (1710 GMT), ICE Brent crude for April delivery traded in London at $125.90 a barrel, down 32 cents. It settled at $126.22 on Tuesday, the highest close for front-month Brent since April 8, 2011. U.S. April crude was down 68 cents at $106.03. Brent's premium against U.S. crude stood at around $19.90, after closing at $19.51 on Tuesday. It posted at a range of $19.21 to $20.01. The dollar was up 0.50 percent against a basket of currencies, hitting an 11-month high against the yen. The greenback strengthened after the U.S. Federal Reserve, in a statement issued on Tuesday following a policy meeting, painted a moderately brighter outlook for the U.S. economy. Gains in the dollar can pressure dollar-denominated commodities by making them more expensive to consumers using other currencies. In euro terms Brent crude oil was just below all-time highs set the previous session, piling pressure on a fragile economic recovery in Europe, which is lagging the United States and Asia.