What happened
In night trading on the Shanghai International Energy Exchange, crude oil futures rose 1.73% to settle at 700.40 yuan per barrel.
Meanwhile, Shanghai gold futures fell 0.04%, while silver futures gained 0.74%.
Why it matters
The increase in crude oil futures suggests a positive market sentiment for energy commodities, which could reflect broader economic expectations.
The mixed performance of precious metals, with gold dipping and silver rising, may indicate shifting investor preferences within the metals complex.
Key facts
Crude oil futures on the Shanghai International Energy Exchange rose 1.73% in night trading.
The settlement price was 700.40 yuan per barrel.
Shanghai gold futures fell 0.04%, while silver futures rose 0.74%.
What to watch next
Traders will likely monitor whether the upward momentum in crude oil continues in subsequent sessions.
The divergence between gold and silver could signal changing dynamics in the precious metals market.