SHFE crude oil futures for Dec 2026 rise 2.09% to 737.50 yuan/barrel in night session

The split between a firm crude contract and softer precious metals in the same session points to a move driven by energy-specific factors rather than a broad risk-on or inflation bid, since gold and silver would typically be participants in the latter. For Chinese crude pricing, the night session matters because it overlaps with active overseas trading, so the gain likely reflects external benchmarks and the yuan rather than domestic demand signals alone. Whether the energy-versus-metals divergence persists into the next session is the open question.