The United States wants to limit Iran’s oil exports. Weekly API stock report will be released later in the session. WTI advances above $70 for the first time in a month. Crude oil prices gathered strength in the last hour with the barrel of West Texas Intermediate rallying above the $70 mark to refresh its highest level since May 25 at $70.62. As of writing, the barrel of WTI was trading at $70.47, adding $2.4, or 3.5%, on the day. According to Reuters, a senior State Department official said that the United States was planning to encourage countries to stop importing oil from Iran from November. “We’re going to isolate streams of Iranian funding and looking to highlight the totality of Iran’s malign behavior across the region,” the official, who didn’t want to reveal his/her identity, told reporters. On the other hand, Iraqi Prime Minister Haider al Abadi said that a price collapse could be witnessed if oil prices rose above their current levels. However, the market remained focused on the potential impact of Iran’s supply falling toward the end of the year. Later in the day, the API is going to publish its weekly crude oil stock report. Last week, the API showed a surprise 3 million barrels decrease in the U.S. stocks and another negative reading could help the barrel of WTI add to its gains in the post-settlement trade hours. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canada is preparing steel quotas & tariffs on China and others FX Street 5 years The United States wants to limit Iran's oil exports. Weekly API stock report will be released later in the session. WTI advances above $70 for the first time in a month. Crude oil prices gathered strength in the last hour with the barrel of West Texas Intermediate rallying above the $70 mark to refresh its highest level since May 25 at $70.62. As of writing, the barrel of WTI was trading at $70.47, adding $2.4, or 3.5%, on the day. According to Reuters, a senior State Department official said that the United States was planning to encourage countries to stop… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.