LONDON—Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled. Brent crude was up $1.17, or 1.1 percent, to $108.70 a barrel at 0952 GMT. U.S. West Texas Intermediate was up $1.15, or 1.1 percent, at $104.43. “With the European Union working on new sanctions that may target Russia’s oil industry, crude prices could edge up in the near term,” said FXTM analyst Lukman Otunuga. There were mounting expectations that Europe would take action to reduce transactions with Russia’s energy sector, further squeezing supplies, said OANDA senior analyst Jeffrey Halley. To calm oil prices, U.S.-allied countries agreed last week to a coordinated oil release from strategic reserves for the second time in a month. However, Japanese industry minister Koichi Hagiuda on Tuesday said …