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 2026-05-07T11:11:18Z 2026-05-07T11:11:18Z 2026-05-07 2014-11-06T09:22:45Z China Central Television Various Markets May 7, 2026/File Various-Oil Prices Crude futures settle lower amid hopes of Hormuz blockade lift Oil prices went down on Wednesday amid rising market expectations that the United States and Iran are nearing the end of hostilities and will lift the blockade of the Strait of Hormuz. Crude futures experienced strong volatility on Wednesday, plunging more than 11 percent at one point during the session. At the close of trading, the West Texas Intermediate for June delivery dropped 7.19 U.S. dollars, or 7.03 percent, to settle at 95.08 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery lost 8.6 dollars, or 7.83 percent, to settle at 101.27 dollars a barrel on the London ICE Futures Exchange. Nats/Part Mute Beijing, China - May 7, 2026 (CCTV Video News Agency - No access Chinese mainland) 1. Graphic showing changes of oil futures prices FILE: Washington D.C., USA - Oct 2024 (CCTV Video News Agency - No access Chinese mainland) 2. Various of White House, U.S. national flag FILE: Tehran, Iran - Date Unknown (CCTV - 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 national flags of Iran 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) 4. Various of oil storage tanks; flame 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) 5. Various of ships sailing in Strait of Hormuz FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland) 6. Various of oil field facilities, pipelines, flames FILE: Kuwait - Aug 7, 2017 (CCTV - No access Chinese mainland) 7. Various of oil drilling rig in operation FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland) 8. Various of workers at oil refinery FILE: Kurdistan Region, Iraq - July 2016 (CCTV - No access Chinese mainland) 9. Various of oil refinery