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

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.