Phillips 66 quarterly profit beats on higher refining margins
12.02.2019
MOSCOW (MRC) -- US refiner Phillips 66 posted a better-than-expected profit as access to low-cost crude oil from U.S. shale basins and Canada boosted its refining margins, sending its shares up 5 percent in premarket trading, reported Reuters.Tight pipeline capacity in the US shale basins and Canada has pushed the price of crude oil from those regions lower, benefiting Phillips 66 as well