Night futures open: low-sulfur fuel oil up over 3%, crude oil and LPG up over 2%; Shanghai silver down over 2%

The split is the story: a broad energy and petrochemical rally alongside a sharp drop in Shanghai silver and weaker industrial metals. That divergence suggests the move is about energy-specific supply or feedstock dynamics rather than a single macro risk-on or risk-off signal, since silver and copper would typically move with reflationary energy strength. The read-across matters most for downstream petrochemical margins, where higher crude, LPG and propylene costs meet products that are themselves rising. Whether the energy complex holds its gains through the session, and whether silver's weakness extends into metals more broadly, is the open question.