Phillips 66 Reports $900 Million Mark-to-Market Q1 Losses
Phillips 66 says first quarter results were hit by nearly $900 million in mark-to-market losses. Rising commodity prices weighed on the company's performance.
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PHILLIPS 66 announced on Monday that its first-quarter financial results were significantly impacted by nearly $900 million in pre-tax mark-to-market losses. The energy company attributed the substantial hit to a sharp rise in commodity prices, which created a challenging environment for the refiner during the period.
