Oil rises above $110

LONDON, Apr 28 (Reuters): Brent crude oil rose above $110 a barrel on Monday, close to a seven-week high, as tensions mounted in eastern Ukraine and Libya delayed the reopening of a damaged eastern port.

The United States and Europe are preparing new sanctions against Russia over its actions in Ukraine. Pro-Russian rebels paraded European monitors they are holding on Sunday, freeing one but saying they had no plans to release another seven.

June Brent was at $110.08 a barrel, up 50 cents, by 0835 GMT after settling down 75 cents on Friday.

US crude for June delivery added 80 cents to $101.40 a barrel, reversing some of its losses from Friday, when it hit the lowest since April 7.

Western sanctions are likely to steer clear of energy as Europe depends heavily on Russia for oil and gas. But Moscow has indicated a willingness to use gas supplies to pressure Ukraine, raising fears that oil flows could also be affected.