China commodity futures open lower; crude oil, fuel oil, PX main contracts fall over 3%

The breadth of the energy and petrochemical selloff points to a single demand-side shock rather than isolated contract-specific pressure, with crude, fuel oil and PX leading and downstream derivatives like PTA, methanol and polypropylene following in sympathy. The divergence is notable: base and precious metals plus ethylene glycol holding gains suggests the move is concentrated in the oil-linked complex, not a broad risk-off across Chinese commodities. Whether the refining and petrochemical chain stabilizes once the initial open gap is absorbed, or whether weakness spreads to the metals complex, is the open question worth tracking.