May 1, 2020 / 11:13 AM / 3 months ago

Refiner Phillips 66 posts quarterly loss as coronavirus hits fuel demand

May 1(Reuters) - U.S. refiner Phillips 66 reported a quarterly loss on Friday compared with a year-ago profit, hit by a crash in demand for its refined products amid the ongoing COVID-19 pandemic.

The company posted a net loss of $2.50 billion in the first quarter ended March 31, compared with a profit of $204 million a year earlier. (Reporting by Shradha Singh in Bengaluru; Editing by Shailesh Kuber)

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