China commodity futures open sharply lower; crude oil main contract falls over 7%

The breadth of the selloff across crude, fuel oil, asphalt and petrochemicals points to a single energy-complex repricing rather than isolated contract moves, which matters for anyone with exposure to Chinese industrial input costs. The split is the real signal: silver and stainless steel rising while the rest of the board drops suggests capital rotating toward metals rather than a uniform risk-off. Whether that divergence holds, or the energy weakness eventually drags the metals complex with it, is the open question worth watching.