Brent Oil Near $110 on Ukraine Tensions

Brent edged up toward $110 a barrel on Monday as tensions rose in Ukraine and Libya delayed the re-opening of a damaged eastern port.

The United States and Europe are preparing new sanctions against Russia as tensions escalated in eastern 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 crude was at $109.78 a barrel, up 20 cents, by 0155 GMT after settling down 75 cents on Friday.  U.S. crude for June delivery added 32 cents to $100.92 a barrel. On Friday, the contract settled at its lowest level since April 7, due to pressure from all-time high crude inventories recorded in the week of April 18.

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