Various-Oil Prices/Tumble
Beijing, China - March 11, 2026 (CCTV Video News Agency - No access Chinese mainland)
1. Graphic showing changes of oil futures prices
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
2. Various of oil drilling in progress, facilities, fire burning
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
3. Various of oil field facilities, pipelines
FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland)
4. Various of oil processing facilities
5. Gas flaring
FILE: Washington D.C., USA - Oct 2024 (CCTV Video News Agency - No access Chinese mainland)
6. Various of White House
FILE: Strait of Hormuz - 2011 (CCTV - No access Chinese mainland)
7. Various of boats sailing through Strait of Hormuz; island in strait
Oil prices tumbled more than 11 percent Tuesday, with West Texas Intermediate and Brent crude posting their steepest single-day losses in years amid U.S. policy signals and supply concerns.
The sharp sell-off followed U.S. President Donald Trump's suggestion the previous day that the conflict with Iran could end "very soon", driving crude futures sharply down in after-hours trading.
The West Texas Intermediate for April delivery dropped 11.32 U.S. dollars, or 11.94 percent, to settle at 83.45 dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery dropped 11.16 dollars, or 11.28 percent, to settle at 87.80 dollars a barrel on the London ICE Futures Exchange.
International Energy Agency (IEA) Executive Director Fatih Birol said in a statement Tuesday that G7 Energy Ministers met at the IEA headquarters to discuss global oil and gas markets and review all available options, including a potential release of reserves held by IEA member countries.
Later Tuesday, the IEA convened a special meeting of member countries, proposing the largest coordinated release of oil reserves in history to address supply tightness. A decision was expected on Wednesday.
Various-Oil Prices/Tumble
Dateline : March 11, 2026/File
Location : Various
Duration : 1'07
Beijing, China - March 11, 2026 (CCTV Video News Agency - No access Chinese mainland)
1. Graphic showing changes of oil futures prices
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
2. Various of oil drilling in progress, facilities, fire burning
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
3. Various of oil field facilities, pipelines
FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland)
4. Various of oil processing facilities
5. Gas flaring
FILE: Washington D.C., USA - Oct 2024 (CCTV Video News Agency - No access Chinese mainland)
6. Various of White House
FILE: Strait of Hormuz - 2011 (CCTV - No access Chinese mainland)
7. Various of boats sailing through Strait of Hormuz; island in strait
Oil prices tumbled more than 11 percent Tuesday, with West Texas Intermediate and Brent crude posting their steepest single-day losses in years amid U.S. policy signals and supply concerns.
The sharp sell-off followed U.S. President Donald Trump's suggestion the previous day that the conflict with Iran could end "very soon", driving crude futures sharply down in after-hours trading.
The West Texas Intermediate for April delivery dropped 11.32 U.S. dollars, or 11.94 percent, to settle at 83.45 dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery dropped 11.16 dollars, or 11.28 percent, to settle at 87.80 dollars a barrel on the London ICE Futures Exchange.
International Energy Agency (IEA) Executive Director Fatih Birol said in a statement Tuesday that G7 Energy Ministers met at the IEA headquarters to discuss global oil and gas markets and review all available options, including a potential release of reserves held by IEA member countries.
Later Tuesday, the IEA convened a special meeting of member countries, proposing the largest coordinated release of oil reserves in history to address supply tightness. A decision was expected on Wednesday.
ID : 8469728
Published : 2026-03-11 14:33
Last Modified : 2026-03-11 21:17:06
Source : CCTV Video News Agency,China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : See shotlist
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