U.S. refiners seen posting stronger third-quarter earnings
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.
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U.S. refiners seen posting stronger third-quarter earnings
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.