Group 1: Report's Core View - Before the holiday, the 380 cracking spread fluctuated, and after the holiday, it weakened slightly. The 380 monthly spread rebounded from its low point but remained weak year-on-year. The high-sulfur cracking spread in Europe weakened, and the monthly spread oscillated at a low level. The 0.5% cracking spread in Singapore oscillated at a historical low, with the structure turning to C at a historical low and the basis oscillating at a historical low. [3] - In terms of inventory, Singapore's residue oil saw a significant inventory build-up, high-sulfur floating storage had a significant drawdown, ARA's residue oil had a slight inventory build-up, Fujairah's residue oil had a drawdown, high-sulfur floating storage had a drawdown, and EIA's residue oil had a slight inventory build-up. [4] - The conflict in Venezuela escalated over the weekend, having a short-term positive and long-term negative impact on heavy crude oil. Attention should be paid to the duration of logistics disruptions. The arrival premium of Merey crude oil at the end of December remained around -12. [4] - The high-sulfur spot market remained loose. Attention should be paid to the boost brought by the premium and discount of heavy raw materials recently. The low-sulfur market maintained a weak oscillation pattern. [4] Group 2: Data Changes in Rotterdam - From January 5th to January 9th, the changes in Rotterdam's 3.5% HSFO swap M1, 0.5% VLSFO swap M1, HSFO-Brent M1, 10ppm Gasoil swap M1, VLSFO-GO M1, LGO-Brent M1, and VLSFO-HSFO M1 were 13.53, 13.84, -0.30, 22.35, -8.51, 1.61, and 0.31 respectively. [1] Group 3: Data Changes in Singapore - From January 5th to January 9th, the changes in Singapore's 380cst M1, 180cst M1, VLSFO M1, GO M1, 380cst-Brent M1, and VLSFO-GO M1 were 6.87, 7.06, 10.15, 2.67, -1.15, and -9.61 respectively. [1] Group 4: Data Changes in Singapore Fuel Oil Spot - From January 5th to January 9th, the changes in Singapore's FOB 380cst, FOB VLSFO, 380 basis, high-sulfur domestic and foreign price difference, and low-sulfur domestic and foreign price difference were 6.74, 10.20, 0.47, -1.8, and 2.4 respectively. [2] Group 5: Data Changes in Domestic FU - From January 5th to January 9th, the changes in domestic FU 01, FU 05, FU 09, FU 01 - 05, FU 05 - 09, and FU 09 - 01 were 49, 52, 59, -3, -7, and 10 respectively. [2] Group 6: Data Changes in Domestic LU - From January 5th to January 9th, the changes in domestic LU 01, LU 05, LU 09, LU 01 - 05, LU 05 - 09, and LU 09 - 01 were 95, 115, 104, -20, 11, and 9 respectively. [3]