Existing　studies　of　risk　spillovers　primarily　examine　returns　and　volatility　but　ignore　higher-order　moment　risks　and　asymmetrical　effects,　thereby　impeding　portfolio　optimization　and　risk　management.　This　study　addresses　those　scholarly　deficiencies　by　investigating　the　realized　higher-order　moments　(realized　skewness　and　kurtosis)　risk　spillovers,　and　asymmetrical　spillovers　in　volatility　between　WTI　and　Brent　oil　and　China＇s　commodities　spanning　2006–2020.　For　robustness,　we　explore　the　spillovers　in　signed　jump　variations,　realized　hyper-skewness,　hyper-kurtosis,　and　realized　jump.　Based　on　the　DCC　framework　and　the　proposed　MVHAR-RS/RK　models,　we　propose　a　model　to　quantify　the　dynamic　links　in　volatility　and　higher-order　moments.　Empirical　results　demonstrate　that　risk-connectedness　varies　under　different　moments.　Alongside　spillovers　in　realized　volatility,　analysis　reveals　significant　spillovers　in　higher-order　moment　risks　and　captures　the　effects　of　asymmetries　in　spillovers　of　good　and　bad　volatility.　WTI　and　Brent　oil　act　as　the　net　transmitters　of　risk　spillovers　in　all　realized　moments　considered.　The　dynamic　links　in　realized　kurtosis　are　relatively　more　volatile　and　higher　than　volatility　and　skewness　links.　The　dynamic　risk　spillovers　under　different　realized　moments　and　conditional　correlations　are　time-varying　and　sensitive　to　major　crises.　These　findings　benefit　investors　and　regulators　concerned　with　cross-commodity　risks,　portfolio　optimization,　and　policymaking.　©　2021　Elsevier　Ltd