China Commodity Futures Energy & Chemicals Sector Plunges; Crude Gains Trimmed to 4%

The striking part is the divergence: crude holding a 4% gain while its downstream chemicals complex sells off harder, with ethylene glycol and methanol leading declines. That suggests the move is less about the crude benchmark itself than about demand expectations for industrial intermediates, or a positioning unwind concentrated in the chemical chain. Whether crude's premium survives the weakness in its own derivative products is the open question worth watching.