Shanghai crude futures fall 2.32% in night session to 678.80 yuan/bbl

The synchronized pullback across crude, gold and silver in the same session points to a broad risk-off or dollar-driven move in Chinese commodities rather than an oil-specific story, with silver's steeper drop suggesting the industrial-precious complex is more exposed than bullion. For RWA and tokenized-commodity watchers, Shanghai pricing matters because it is a reference point for onshore Chinese demand sentiment that offshore markets do not fully capture. Whether the crude decline extends into the next session, and whether gold's shallower move holds as a relative safe-haven signal, is the open question.