Shanghai crude oil futures close night session up 2.32% at 739.80 yuan/barrel

The divergence is the story: crude rallying hard while precious metals slip marginally suggests the move is energy-specific rather than a broad commodity or currency repricing, though the night session's thin liquidity can exaggerate single-contract swings. For China-facing traders, the SHFE contract is a yuan-denominated read on imported crude costs, so a session like this feeds directly into refining and petrochemical margins. Whether the crude bid holds into the next session, or fades as metals did, is the open question.