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Refiner Phillips 66 posts quarterly loss as virus hits fuel demand

U.S. refiner Phillips 66 on Friday reported a quarterly loss, as coronavirus-led restrictions on businesses and travel destroyed fuel demand and hurt margins.

The Houston, Texas-based company posted a net loss of $141 million, or 0.33 cents per share, in the second quarter ended June 30, compared with a profit of $1.42 billion or $3.12 per share, a year earlier.
Source: Reuters (Reporting by Shradha Singh in Bengaluru; Editing by Shinjini Ganguli)

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