Shanghai crude oil futures fell 0.77% in night trading to 604.4 yuan per barrel; Shanghai gold fell 2.29% and silver fell 3.41%.

The sharper move is in precious metals rather than crude: gold and silver falling together in Shanghai's night session points to a broad de-risking in the onshore complex rather than an energy-specific story. That matters for Chinese traders holding metals as a hedge alongside crude exposure, since the two are diverging in magnitude. Whether the silver underperformance versus gold persists — a signal of industrial-demand skepticism rather than pure haven flows — is the open question worth watching in the next session.