Phillips 66 posts first profit in a year on fuel demand recovery

U.S. refiner Phillips 66 posted an adjusted quarterly profit, its first in a year, benefiting from a rebound in fuel demand due to the easing of pandemic-related travel curbs.

Adjusted earnings came in at $329 million, or 74 cents per share, for the three months ended June 30, compared with a loss of $509 million, or $1.16 per share, in the first quarter. (Reporting by Shariq Khan in Bengaluru; Editing by Subhranshu Sahu)

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