UPDATE 7-U.S. oil jumps on inventory drop, Putin comments weigh on Brent

* U.S. crude stocks fell 1.8 mln barrels last week - EIA

Cushing stocks down 1.4 million barrels - EIA

* Putin calls for separatists to postpone referendum

* Libyan rebels occupying ports refuse to deal with new PM

(Recasts with EIA data)

By David Sheppard and Julia Fioretti

LONDON, May 7 (Reuters) - U.S. crude oil prices jumped by more than 1 percent on Wednesday after a government report showed a sharp drop in inventories in the United States.

Brent crude was pressured after Russia called for separatists in the east of Ukraine to postpone an independence referedum.

The U.S. Energy Information Administration said U.S. crude inventories fell by 1.8 million barrels nationally last week as imports fell, including a 1.4 million barrel drop at Cushing, Oklahoma, delivery point of the U.S. futures contract.

The EIA numbers largely confirmed Tuesday's industry report from the American Petroleum Institute.

Brent crude for June delivery rose 39 cents to $107.45 a barrel by 1447 GMT, off an earlier high of $107.60.

U.S. crude rose $1.14 to $100.64 a barrel, with its discount to Brent <CL-LCO1=R> narrowing to $6.81 a barrel, close to its narrowest in two weeks.

Brent was pressured after Russian President Vladimir Putin called for separatists in the east of Ukraine to postpone an independence referendum this weekend, in a possible sign of moves to ease the crisis.

While gas and oil supplies have not been significantly disrupted by the Ukraine situation, traders and analysts say the risk remains that the United States and European Union could target the Russian energy industry with sanctions, or Moscow could choose to restrict exports.

Brent found some support, however, from tensions in Libya, where rebels occupying oil ports in the east of the country said they would not deal with new Prime Minister Ahmed Maiteeq, despite an agreement last month to reopen four ports.

Protests at Libya's major oilfields and ports have decimated its oil production from around 1.4 million barrels per day until mid-2013 to just over 250,000 bpd, and slowed exports to a trickle.

Unrest also hit oil infrastructure in Yemen where assailants blew up its main oil export pipeline, halting crude flows.

(Additional reporting by Jacob Gronholt-Pedersen in Singapore; Editing by William Hardy)