Various-Oil Prices/Plunge
Various-Oil Prices/Plunge
Dateline : April 17-18, 2026/File
Location : Various
Duration : 1'24
Beijing, China - April 18, 2026 (CCTV Video News Agency - No access Chinese mainland)
1. Graphic showing changes of oil futures prices
2. Screenshot of post from Iranian Foreign Minister Seyed Abbas Araghchi on social media platform X
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: Tel Aviv, Israel - June 2021 (CGTN - No access Chinese mainland)
4. Various of national flags of Israel
FILE: Lebanon - Jan 2026 (CGTN - No access Chinese mainland)
5. National flag of Lebanon
FILE: Lebanon - March 2025 (CGTN - No access Chinese mainland)
6. National flag of Lebanon
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
7. Various of oil field facilities, pipelines, fire
FILE: Kuwait - Aug 7, 2017 (CCTV - No access Chinese mainland)
8. Various of oil drilling rig in operation
FILE: Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland)
9. Various of workers at oil refinery
FILE: Kurdistan Region, Iraq - July 2016 (CCTV - No access Chinese mainland)
10. Various of oil refinery
Crude oil futures prices sank over 10 percent on Friday morning as Iran announced the opening of the Strait of Hormuz to all commercial vessels during the ceasefire in Lebanon.
In Friday's morning session, West Texas Intermediate crude oil futures for May delivery dropped as low as 84.48 U.S. dollars per barrel at one point, a sharp decrease of over 12 percent compared with the settlement price of the last trading session. Brent crude oil futures for June delivery had a low of 88.76 dollars per barrel, dropping by more than 10 percent in comparison with the settlement price of the last trading session.
At the close of the trading session, the West Texas Intermediate for May delivery lost 10.84 U.S. dollars, or 11.45 percent, to settle at 83.85 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery lost 9.01 dollars, or 9.07 percent, to settle at 90.38 dollars a barrel on the London ICE Futures Exchange.
Iranian Foreign Minister Seyed Abbas Araghchi said Friday in a post on social media platform X that the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire in Lebanon.
U.S. President Donald Trump thanked Iran for the announcement of a full reopening of the Strait of Hormuz on Friday. In a follow-up post, Trump said that the U.S. naval blockade on Iran will remain in full force until Washington's transaction with Tehran is "100 percent complete."
A 10-day ceasefire between Israel and Lebanon took effect at midnight between Thursday and Friday local time (2100 GMT Thursday).
Oil tanker transit through the Strait of Hormuz, a vital shipping corridor accounting for around 20 percent of global oil flows, has been effectively closed since the outbreak of the conflict in the Middle East at the end of February.
ID : 8475308
Published : 2026-04-18 10:00
Last Modified : 2026-04-18 17:33:33
Source : CCTV Video News Agency,China Central Television (CCTV),China Global Television Network (CGTN),Other
Restrictions : See shotlist
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