To update prices and add details and background

LONDON, April 29 (Reuters) - Oil prices jumped more than 5 percent on Wednesday, with Brent crude hitting a one-month high, as investors grew increasingly concerned about the potential for continued supply disruptions in the Middle East amid the ongoing stalemate in negotiations between the United States and Iran.

U.S. government data showed a larger-than-expected drop in crude oil inventories last week, adding to the pressure on U.S. crude oil prices.

Brent crude futures for June delivery rose $6.08, or 5.5 percent, to $117.34 a barrel by 11 a.m. ET, marking their eighth consecutive day of gains and reaching their highest level since March 31. The June contract expires on Thursday, while the more actively traded July contract rose about 5 percent to $109.59.

U.S. West Texas Intermediate crude futures for June delivery rose $5.26, or 5.3 percent, to $105.19 a barrel, their highest level since April 13. The contract has risen in seven of the last eight trading sessions.

US President Donald Trump urged Iran to "act wisely as soon as possible" and sign an agreement to end its war with the United States and Israel. Trump also inquired with US oil companies about ways to mitigate the effects of a potential US blockade of Iranian ports, which could last for months, raising concerns about continued disruptions to oil supplies in the Middle East.

Reuters calculations up to mid-April indicate that losses in crude oil supplies have exceeded $50 billion since the start of the war with Iran.

"If Trump is willing to extend the embargo, supply disruptions will worsen and continue to push oil prices higher," said Yang An, an analyst at Haitong Futures.

Signs of declining supplies are also emerging in the United States. Data from the U.S. Energy Information Administration showed that U.S. crude oil inventories fell by more than six million barrels last week, compared to analysts' estimates of a drop of just over 200,000 barrels.

In a related development, two sources familiar with the matter and a notice seen by Reuters reported that Abu Dhabi National Oil Company (ADNOC) has informed some of its customers that they may be able to load two types of crude oil from outside the Gulf region next month, given the continued closure of the Strait of Hormuz.

Investors are also assessing the implications of the UAE’s surprise decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance, but analysts do not expect any significant impact on the market in the near term.

Callum McPherson, head of commodities at Investec, said , "Looking ahead, there is known to be tension over the UAE's production limits, and the possibility of withdrawing from the OPEC+ alliance has been on the table for some time. From that perspective, this move is not surprising, but its timing is noteworthy in light of the overall situation in the region."