The heavy-oil chain moved out of step tonight. Bitumen at 5,366 yuan per tonne rose 3.11% to lead; fuel oil at 5,391 yuan per tonne eased 0.81%. Refiners are reallocating residue between coking and bonded bunker blending, and both the crack and inventories are being reshuffled.

Fuel oil -1.79% and bitumen -0.88% break the daytime premium divergence; refiners tilt residue back to coking.

Fuel oil up 5.31% and bitumen up 4.96% move together; natural rubber slips while butadiene rubber gains 2.82%, splitting the rubber family.

Fuel oil at CNY 5,349 (+6.38%) and bitumen at CNY 4,766 (+3.61%) led gains, while natural rubber CNY 19,700 (+0.43%) and butadiene rubber CNY 16,170 (+1.51%) barely moved. The 13 categories split into a heavy-oil curve and a rubber curve that should not share hedges.

Fuel oil at 4,986 and bitumen at 4,488 both firmed, natural rubber edged to 19,865, but butadiene rubber fell 1.78% to 15,720. Within the 13 categories, the heavy-oil complex and the synthetic-rubber complex trace two separate curves.

Fuel oil up 3.71%, bitumen off 0.36%; natural rubber down 0.08%, butadiene rubber down 0.25%. The two chains diverge and the crack spread widens at both ends.

Brent and WTI each fell $2.10, yet fuel oil rose 3.04% to ¥4,608/t while bitumen, natural rubber and butadiene rubber all dropped — refining cracks and rubber demand are on separate tracks.

Fuel oil rose while bitumen fell, and both rubber grades gained; SNSUC keeps thirteen categories in two books — energy-heavy-oil and rubber-polymer — to stop a blended average from hiding the signal.