Indicates the type of a location. Location Type Defined by CCTVPLUS Indicates the role that a specific instance of a description takes among all descriptions. Description Role Defined by CCTVPLUS The role in the overall content stream. Part Role Indicates a kind of content rendition. Content Rendition Defined by CCTVPLUS CCTV Newscontent Co.,Ltd. CCTV Newscontent Co.,Ltd. All Rights Reserved. No access Chinese mainland CCTV Newscontent www.cctvplus.com +86-10-83949886 +86-10-63978447 contact@cctvplus.com 2026-04-16T12:07:17Z 2026-04-16T12:07:17Z 2026-04-16 2014-11-06T09:22:45Z China Central Television Various Markets April 15-16, 2026/File Various-Oil Prices/Strained Supply Crude futures edge up on Wednesday Oil prices edged up on Wednesday as investors remain concerned over uncertain situation in the Middle East that has kept global oil supply strained. The West Texas Intermediate for May delivery added 1 cent, or 0.01 percent, to settle at 91.29 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased by 14 cents, or 0.15 percent, to settle at 94.93 dollars a barrel on the London ICE Futures Exchange. According to an oil market report released by the International Energy Agency (IEA) on Tuesday, global oil supply plunged by 10.1 million barrels per day to 97 million barrels per day in March. The report said continuous attacks on energy infrastructure in the Middle East and restricted shipping traffic in the Strait of Hormuz have severely disrupted global oil supplies. Global observed oil inventories fell by 85 million barrels in March, with stocks outside of the Middle East Gulf drawn down by a significant 205 million barrels, affected by disrupted shipping flows in the Strait of Hormuz, the report said. The supply shocks pushed international oil prices to notch their steepest monthly gain on record in March. The increasingly tight global oil supply has forced major oil-importing countries to secure alternative supplies. Spot crude prices have surged to nearly 150 U.S. dollars a barrel in April, standing markedly higher than futures prices. The IEA report said restoring shipping traffic in the Strait of Hormuz is pivotal to easing the tight energy supply, curbing oil price surges and alleviating pressures on the global economy. Currently, the prospect of achieving a lasting solution to conflicts through talks remains uncertain, it said. If the conflicts drag on, the risks confronting the energy production and trade across the Middle East will remain high, according to the report. Nats/Part Mute Beijing, China - April 16, 2026 (CCTV Video News Agency - No access Chinese mainland) 1. Graphic showing changes of oil futures prices FILE: Kharg Island, Iran - 2016-2018 (CGTN - No access Chinese mainland/Al-Arabiya/Persian language TV Stations outside Iran. Strictly No Access BBC Persian/VOA Persian/Manoto TV/Iran International/Radio Farda) 2. Various of oil storage tanks; fire burning at oil refinery FILE: Strait of Hormuz - Date Unknown (NNC - No access Chinese mainland/Al-Arabiya/Persian language TV Stations outside Iran. Strictly No Access BBC Persian/VOA Persian/Manoto TV/Iran International/Radio Farda) 3. Various of ships sailing in Strait of Hormuz FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland) 4. Various of oil field facilities, pipelines, fire FILE: Kuwait - Aug 7, 2017 (CCTV - No access Chinese mainland) 5. Various of oil drilling rig in operation FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland) 6. Various of workers at oil refinery FILE: Kurdistan Region, Iraq - July 2016 (CCTV - No access Chinese mainland) 7. Various of oil refinery