October 25, 2019 / 11:11 AM / a month ago

Refiner Phillips 66 quarterly profit halves

Oct 25 (Reuters) - U.S. refiner Phillips 66 reported a 52% fall in quarterly profit on Friday, as refining margins were hammered by higher prices for heavy crude.

Net earnings fell to $712 million, or $1.58 per share, in the third quarter ended Sept. 30, from $1.49 billion, or $3.18 per share, a year earlier.

Reporting by Shradha Singh in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva

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