Phillips 66 Sees Nearly $1 Billion in Losses as Oil Prices Surge

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Bloomberg Markets 21 hours ago • bloomberg.com

Phillips 66 Sees Nearly $1 Billion in Losses as Oil Prices Surge

Phillips 66 estimated nearly $1 billion in losses from its short position in oil and other related commodity derivative contracts in the first quarter as the war in Iran sent crude and fuel prices skyrocketing.

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