SHFE Crude Oil Futures Fall 8.62% in Night Session to 681 Yuan/Barrel

The scale of the crude move, nearly a tenth of value in a single night session, is the story here rather than the outright level, and the divergence with precious metals in the same session points to a rotation within the SHFE complex rather than a uniform risk-off. Silver's larger gain relative to gold suggests the bid is concentrated in the more industrial-sensitive metal, which sits awkwardly beside a crude collapse and is worth watching for confirmation. Whether the crude decline reflects a one-off session or a broader repricing is the open question.