Phillips 66 Posts Record Profit
Phillips 66 reported a record quarterly profit driven by higher refining margins and strong distillate yields. Global fuel supply disruptions helped boost earnings past Wall Street estimates.
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PHILLIPS 66 reported a record quarterly profit of $5.62 billion on Wednesday afternoon, topping Wall Street estimates on surging refining margins. The Houston-based refiner capitalized on tightened global fuel supplies driven by ongoing conflicts in Iran and Ukraine involving Russia .
