Night futures open: crude up over 3%, silver down over 3%

The split between an energy complex rallying hard and precious metals selling off points to a rotation rather than a single macro driver: the gains are concentrated in crude-linked petrochemicals and the losses in metals, with silver's drop outpacing gold's. That divergence matters for anyone holding cross-commodity exposure, since it suggests positioning is shifting between inflation-sensitive energy and metals rather than a uniform risk move. Whether the energy bid persists through the session and whether silver's weakness deepens relative to gold are the open questions.