Phillips 66 Joins Rivals to Beat Profit Estimates as Refining Margins Soar

U.S. refiner Phillips 66 beat Wall Street estimate for first-quarter profit on May 3, joining rivals in gaining from elevated margins on sustained fuel demand amid tight crude supplies. The company’s shares rose 1.3% to $95.98 in morning trade. Profits from turning crude oil into gasoline, diesel and jet fuel…Read More