Refining margins, or cracks, for gasoil with 10ppm sulphur content climbed to as high as $15.34 a barrel over Dubai crude during Asian trading hours, the highest since March 8.

The cracks for the benchmark gasoil grade in Singapore were at $14.08 a barrel on Friday.

Crude oil prices held steady on Monday following last week's heavy losses, as deepening US trade wars fanned fears of a global economic slowdown but top oil exporter Saudi Arabia sought to calm markets.

Cash differentials for 10ppm gasoil were at a discount of 2 cents a barrel to Singapore quotes, compared with a premium of 3 cents per barrel on Friday.

Meanwhile, cash discounts for jet fuel narrowed to 8 cents a barrel to Singapore quotes, compared with a discount of 16 cents per barrel in the previous session.

Refining profit margins for jet fuel were at $14.05 a barrel over Dubai crude on Friday, up from $13.09 a barrel on Friday.

The June/July time spread for jet fuel narrowed its contango structure by a cent to be at a discount of 1 cent a barrel on Monday.

In a contango market structure, prompt prices are lower than those for future delivery, which tends to encourage holders of physical barrels to store them and sell later to secure higher prices.

A narrowing contango indicates the market may flip back into backwardation - the opposite of contango that is usually seen as a sign that there is demand for product and the market is rebalancing.