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Reuters

Reuters

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Business & Economics

Phillips 66 reports smaller-than-expected fourth quarter loss on renewables strength

Reuters
Summary
Nutrition label

81% Informative

The renewables fuels segment reported a quarterly profit of $28 million , compared to a loss of $11 million from a year earlier .

The U.S. refining industry saw exceptional profits for two years following supply shortages from Russia 's invasion of Ukraine .

New refining capacity came online at the end of 2023 , causing margins to return to normal levels.

VR Score

92

Informative language

98

Neutral language

68

Article tone

formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

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