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Independent fuel makers Valero Energy, Marathon Petroleum and Phillips 66 are expected to post near-record earnings for the June quarter. The piece also says war-related supply disruptions have tightened global energy markets.
Wall Street analysts expect Valero Energy, Marathon Petroleum and Phillips 66 to report sharply higher refining earnings, helped by wide crack spreads and supply disruptions abroad.
Wall Street analysts expect Valero, Marathon Petroleum and Phillips 66 to report much stronger refining earnings in the third quarter as margins widen on tight global fuel supplies. The story says U.S. diesel prices remain near record levels and refinery capacity is constrained by outages and disruptions abroad.